Home sales up more than 20% over last year

Local home sales are on the rise as prices keep falling
http://www.azstarnet.com/sn/biz-topheadlines/261681
ARIZONA DAILY STAR
Tucson, Arizona Published: 10.10.2008

Median home prices in Pima County continued to drop in September, and the number of homes sold was up 3.4 percent from August and up nearly 21 percent from September 2007, the Tucson Association of Realtors reported.
The local Realtors group said the sales increase points to a stabilization in the local housing market.
Compared to September 2007 — when the median home price in Pima County was $215,000 — home values have dropped 16 percent. The average sale price in September 2008 was $217,397, down 20 percent.
The association predicted that home prices will begin to rise in 2009.
PIMA COUNTY HOUSING NUMBERS
Annual Sept. 2008 Aug. 2008 Sept. 2007 pct. change
Homes sold 934 903 774 +20.7%*
Median price $180,500 $185,000 $215,000 -16.0%
Average price $217,397 $238,504 $272,396 -20.2%
Pending sales 836 878 989 -15.5%
Active listings 7,858 7,763 9,190 -14.5%
New listings 2,039 1,952 2,497 -18.3%
*Figures rounded to nearest tenth. Source: Tucson Association of Realtors Multiple Listing Service