SLOWING DOWN

The housing market, a crucial component of Tucson's economy, has collapsed. From the Tucson Daily Star of 6/6/07:

"Residential listings averaged 9,925 at the end of January, February and March, according to the Tucson Association of Realtors Multiple Listing Service, nearly triple the average for the same quarter in 2005, the peak year for sales. In March alone, the number hit a record of 10,185.

Sales for the quarter were down about 18 percent from the same three months in 2005, according to the Realtor statistics. Meanwhile, the average number of days on the market for the quarter is 67, up 27 days from the same time in 2005."