Housing market continues to move toward stability

Tucson's housing market entered the new year showing continued stabilization that began in 2012.

The median sales prices dropped slightly from $147,500 in December to $145,000 in January, but that is an increase of 16 percent over January 2012, statistics from the Tucson Association of Realtors Multiple Listing Services show.

Sales volume dropped 6.48 percent in January vs. December, but homes under contract climbed by 19.44 percent month-over-month.

The percentage of cash sales rose to 36.7 percent in January, up from 33.1 percent in December.

Meanwhile, there were 416 foreclosure sales in January, data from the Pima County Recorder's Office show. That's the lowest number of January foreclosures since 2009.

Gabriela Rico


Brewer: Airlines' merger isn't expected to hurt state badly

PHOENIX - Arizona Gov. Jan Brewer says the state's economy won't be badly hurt if US Airways merges with American Airlines and the company headquarters moves to Texas.

Brewer said Monday she's met with US Airways CEO Doug Parker and he's assured her the majority of jobs in Phoenix will stay even with the move. She said Parker and the headquarters staff would move, but Phoenix would remain a hub and thousands of operations jobs would remain here.

The governor said news reports that the Phoenix hub may be cut doesn't square with what Parker told her. She said she got "all sorts of assurances" from Parker and she believes him.

Tempe-based US Airways is reportedly close to a merger with American parent AMR Corp. to create the world's biggest airline by passenger traffic.

The Associated Press