I've been looking for some numbers about Tucson but so far all I've found is the fact that in 2005, 26% of all mortgage loans in AZ were sub-prime.
Glut of homes hits 16-year high
Sales slip, but supply of homes on the market jumps to 9.6 months,
pushing prices down for 12th straight month.
By Chris Isidore, CNNMoney.com senior writer
August 28 2007: 5:49 PM EDT
NEW YORK (CNNMoney.com) -- Homeowners trying to sell last month faced the biggest glut of homes on the market in about 16 years, as declining sales and growing problems in the mortgage market helped push home prices down for the 12th straight month.
Not only did sales slip but the number of homes for sale jumped 5.1 percent, the group said, meaning there is now a 9.6-month supply of homes for sale, up from 9.1-months in the June reading. It was the biggest supply of homes by that measure since October 1991.
Tuesday, August 28, 2007
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