Tucson housing trends continue to support the seller’s market and it doesn’t appear that we are going to shift anytime soon. As long as interest rates stay low, and there isn’t any political distress, intervention or meddling we should continue to see prices rise which is great if your selling not so good if your buying.
If you would like a full report please click the link: https://www.tucsonrealtors.org/docs/default-source/Stats/sept2019stats.pdf?sfvrsn=2
To put things in perspective in 2006 the median home price was at $220k interest rates were around 6%, due to the Government lead mortgage meltdown we saw those 2006 prices plummet and are only now just getting back to 2006 values.
10 years later we are just now getting back to our 2006 values. Even in 2008 the median price for a home in Tucson was $209k with interest rates at just under 5%. In the last year due to limited inventory and favorable interest rates, we have eclipsed and surpassed the 2006 median home price here in Tucson. With the current median price at $225K and interest rates hovering just over 4%.
Heading into the winter market and the holidays will surely slow things down a bit, but if you are selling now is the time to capitalize on this market. Interest rates are buyer-friendly and low inventory has created a very favorable market for sellers.
If your selling and would like to take advantage of the market but hate the idea of having to pay a Realtor a Commission there is an alternative, visit www.GetMyHomeBuyer.com and discover how you can AVOID Paying A COMMISSION when you SELL your Tucson home.
For a Full Statistical Report of Tucson Housing Market visit:https://www.tucsonrealtors.org/docs/default-source/Stats/sept2019stats.pdf?sfvrsn=2