Tucson Housing Report Shows Mixed Pricing

The latest housing report published by Bright Futures Business Consultants shows a mixed bag of pricing trends.  The median price for a new home in Tucson reached $214,743, which is the highest point of the year.  However, the prices of resale homes and foreclosures sank to new lows with the median price falling to $91,700.  Looking at the brighter side of this equation it means that the current lowered inventory should continue to decrease as distressed properties are moved at a fairly rapid pace.  Ultimately a good majority of these houses must be moved through before any semblance of price increases can take hold for the long term.  Foreclosures and short sales will continue to be around for some time to come, but squelching the masses of them will begin to bring stability.

Stephen Woodall

REALTOR, GRI @ Long Realty Company

Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.