Furthermore, Arizona is strapped for cash and is likely to look for sources of increased revenue in the very near future. But is double taxation on our homes really the answer? The Arizona Association of Realtors says “NO” which is why they are sponsoring the Protect Our Homes Amendment, Proposition 100.

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As has been the case for the last few months, we are seeing a lot of short sales and foreclosures selling, which brings down the volume. However, lots of homes are being sold, 934 in September alone. I don’t see any sign of the market slacking off in response to the economic turbulence, at least not here in Tucson. However, November and December will tell the more detailed story as homes that were already pending sold in September.

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If I calculate only using Sold listings versus Active Listings, we have an 8.6 month supply still active. I believe that number is more accurate and really reflects what sellers are experiencing out there right now.

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