Thursday, August 18, 2011

Real Estate Is Still Local

It seems there is always a new headline about the condition of the housing market in America. Many times, the story you read on Friday contradicts the one you read on Wednesday. Here in Tucson, we have made the news as being the sickest real estate market in the country, and the best place to invest in the same month. What should you do with that information?

The national media has one job: Write interesting headlines. It is important to note when you read any story about the housing market, that each market is different. What is happening in southern Arizona is not what is happening in New Jersey or Texas. In Tucson, unit sales have been going up steadily since January, and our inventory levels have dropped consistently over the same period. We have 6 months of inventory, which is a very healthy balance of buyers and sellers.Tucson has tremendous opportunity right now! These are strong signs that we may have hit the bottom in home values. Lets hope the trend continues.

Real estate is still local. Please do not rely on the national or even local media to determine your course of action in real estate. They get paid to sell papers, not homes. If you are interested in what is happening with housing in your area, speak with a local real estate professional that is licensed, actively engaged, and busy selling properties. They will know what is happening in your market, and they will have all of the facts at hand. These decisions are too important to leave to a reporter.

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