So the Stock Market Goes, So Goes the Tucson Luxury Homes Market

As the Dow is hovering near 10,000, I expect more buyers will be inclined to make luxury home purchases again. I have noticed as signs signal that the recession is nearing an end, more luxury homes are going under contract. However, this does not mean that those who are listing their homes are going to get an appreciation bump. The good news for Sellers is that if their listed home is staged well and is priced aggressively, it won’t take as long to sell as it has in the past. I have noticed that some new listings are priced at or near where they would have been at the peak of the market. Unfortunately that the house may sell at 2006  or 2007 prices is wishful thinking. If you want to get these prices, you need to wait a few years. It is unlikely we will see much appreciation until at least 2011.

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