AZ tucson stats

Arizona Daily


New-home sales tumbled in January, according to a report released Wednesday by a local housing market consultant.
The number of new homes sold for the month fell to 257, a drop of about 53 percent from January 2007 and typical of sales in 1992, according to the Southern Arizona Housing Market Letter published by John Strobeck of Bright Future Business Consultants.
The median and average prices for new homes also dropped by 9 percent and 7 percent respectively from a year ago to $226,577 and $272,260, according to the report.
Resale home sales also dropped about 36 percent from the same month in 2007, according to the report. The median price for resale homes dropped about 8 percent to $195,000 while the average price for resale homes rose by about 3 percent to $263,571.
The average price was lifted by about a dozen home sales of $1 million or more, Strobeck said.