I am the first to tell you all real estate is local, but still thought it encouraging that the national resale home sales stats showed a 6.5% increase for December over November of last year. Also the national resale housing inventory dropped, even though home sales were 13% lower in 2008 than 2007.
As a result, the horrible economic news of 50,000 jobs lost today was countered by the much more positive housing stats, so the Dow actually gained about a half a percent.
Predictions are tough. Certainly great deals on houses can be had and I know 5 years from now many will be telling themselves, “If only we had bought in 2009.” Sometimes it is hard to leap when there is so much dire economic news.
As far as selling in the Tucson luxury resale housing market goes, I can tell you I have sold in a worse market in the MD-DC area in the mid 1990s. Therefore, after putting it all in perceptive, I know better times are coming and that housing will always see its ups and downs.
Tucson remains a great place to live: It offers mountain and desert beauty that is unsurpassed; pristine air with clear skies to witness the constellations; and a climate that is hard to beat. I can tell you that even in the summer when many escape the heat, I prefer it to the hot and high humidity summer days in MD. And remember the summer mornings and evenings in the desert see a big decrease in temperatures.
Tucson remains to me as one of the best places in the world to call home!