Tucson Housing Market Shows Strong Signs of Recove
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8/6/2009
Tucson's beleaguered real estate market has shown signs in the past few months of digging out of the slump it has been in for the past year and a half.
Excess inventory has been coming off of the market, bringing current levels (finally) under a 6-month supply. Some areas of the Tucson Metro housing market are currently in the 3-month supply range, most notably the South, Southeast, Southwest & West areas of town.
Foreclosed homes for sale make up about 8% of current listings, 12% of July's sales being foreclosures.
What all of this means is that the Tucson housing market has leveled off, and will hopefully continue this trend. Pricing is pretty stable, with first-time homebuyers and investors snapping up bargains making up the bulk of the buyer's market.
TucsonKent | Catalina Foothills, AZ