I’ve participated in this monthly survey for some years and have seen it drop from the giddy heights of the boom to the darkest days of the bust. And now, recently, the mood and expectations, as reported in the survey, are very much on the upswing.
Source: Credit Suisse
We survey real estate agents, as we believe agents provide an accurate assessment of local housing market trends in both the new and existing home markets. We view an understanding of the existing home market as crucial to homebuilders as it represents over 90% of total sales, and trends in the existing home market often dictate trends in the new home market.
Each month, we survey agents about trends in buyer traffic levels, home prices, incentives, inventory levels, and the length of time needed to sell a home. In February, we received responses from 850 real estate agents across the country. We review responses and calculate an index for each of the questions with levels above 50 indicating positive trends, levels below 50 indicating worsening trends, and a level of 50 indicating a neutral trend.
The report is for the entire Tucson market but as far as recent trends, and March in particular,
I think it’s quite accurate for the foothills as well.
**If you’re having trouble seeing the report clearly, just click the report and it will open full size in a new window**
to find your Tucson Foothills home