The other day I did a post titled dueling sales numbers for Tucson.
In it I quoted a couple of local experts on the state of the real estate market in the greater Tucson metro area, and compared it to what's happening in the Tucson Foothills area. In doing so, I made the case that because the Foothills does not have any large scale new home building, that it has been, and will continue to be, less susceptible to the market deterioration that is taking place in other areas of Tucson. Coincidentally, the next day the Arizona Daily Star ran this story
New-home market flooded on outskirts as builders, owners compete
This piece fleshes out what I alluded to, and illustrates how the actions of big builders are contributing to the deteriorating real estate market in other areas of Tucson.
"The builders, they just flooded this market with inventory," said Melinda Turner, who put her Sahuarita home on the market about a year ago without success. "And the rest of us, the previous customers, got really screwed."