The Tucson Housing Market October 2015
Tucson Housing Market October 2015 Update From TARMLS
Tucson Housing Market October 2015
The Tucson Housing Market October 2015 report showed sales and listings price increased from the prior month of September 2015.
Total active listings and units under contract were up in October.
The median sales price was up, but only by less than 1.00% from September levels. The arrival of “snowbirds” looking for that perfect Tucson home may create upward pressure on prices. Interestingly, Days On Market increased slightly – 2 Days – to 63 days although median sales price changed very little.
Mortgage rates moved up about 1/4 point, but 30 fixed mortgage rates remain below 4.00% in the Tucson AZ housing market. Will the Fed raise rates in December? The media is sounding a “likely” YES. Siting the job numbers as a catalyst. The message is clear, the economy continues to get better. But that depends on where you look and what you read. Increases in temporary jobs for holiday retail sales, don’t last. But the rate increase will!
We just have to wait, any further increase in mortgage rates of a quarter of a point are still very low. Home price gains continue to offset the low mortgage rates.
And now the Tucson Housing Market Report – October 2015
When submitting an offer
If you “really” want the home, make a “reasonable” offer. We work with our buyers to present an offer – THEY – feel good about. Some “low ball” offers are getting the job done. Many aren’t.
You have to ask yourself, “will I feel bad if I don’t get this house?” If the answer is no, then put in an offer you would feel is a steal and see what happens. If the answer is yes, put in an offer you and your Realtor think is reasonable.
We will work with you to understand your objectives and analyze the market to determine – as best we can – a price range for the home you want to buy or sell.
Looking for a home in Tucson or planning for a future retirement in Tucson AZ? We can help!