National Housing Slowdown Comes To Oro Valley
According to the Wall Street Journal: "The national housing slowdown is spreading to markets like Las Vegas and Phoenix, where prices still haven’t reclaimed their pre-crisis peaks."
The Long Realty report for Oro Valley for December, shows a slowdown in sales from the previous year.
"In the Oro Valley area, November 2018 active inventory was 265, a 1% decrease from November 2017. There were 58 closings in November 2018, a 17% decrease from November 2017. Year-to-date 2018 there were 851 closings, a 2% decrease from year-to-date 2017.
For those selling, housing for sale inventory 4.6 months, up from 3.8 in November 2017, a further indication of the slow down.
Colorado River Water Restriction Plan Will Impact Oro Valley
Apparently our warnings of potential CAP water restrictions are much more than our conjecture. They are a fact.
As we have posted numerous times on LOVE, CAP water is going to be restricted. Oro Valley's town touted water supply is going to be affected. Oro Valley needs to deal with the reality. It is a strategic issue. This article supports our continuous harping on the subject. The states need to come to agreement on how they will restrict water use or the federal government will step in.
According to Tucson's KGUN9: "Southern California's largest water wholesaler has approved a drought contingency plan that it hopes will help ensure the drought-stressed Colorado River will supply the Southwest for a decade." Notice that the plan is to supply "...for a decade" and not for 100 years, as Oro Valley's water assurances cover.
"Colorado, Nevada, New Mexico, Utah and Wyoming that have approved plans to take less water from key river reservoirs, including lakes Mead and Powell." Arizona, which gets CAP water from Late Mead, has yet to approve the plan which will restrict water use starting in 2020. Arizona will be one of the first states to receive Colorado River water restriction because it was one of the last to join the water use pact.
Linda Vista-Oracle intersection may reopen in 2019!
The west side intersection of Linda Vista and Oracle has been virtually unusable for at least three months. This because Southwest Gas is replacing pipleline along Oracle Road.
There is a traffic light at this intersection that allows one to enter safely onto Oracle without having to jump in front of the high volume of traffic on Oracle. So, getting this intersection back into operation is important to public safety.
While other intersections have been disturbed, such as Concordia and Oracle, they are now open. But not Linda Vista. We see crews working there, from time to time: Digging holes; filling holes.
Oro Valley town constituent coordinator Jessica Hynd tells us that "The reason it seems the project is sitting stale is due to offsite testing of the newly placed upgraded pipes. As testing is done, crews will return to make adjustments as needed." She also told us that the project should be fully completed by early next year.
