The Tucson Housing Market December 2015
Tucson Housing Market December 2015 Update From TARMLS
Tucson Housing Market December 2015
The Tucson Housing Market December report showed home prices and sales increase over November 2015. However, active listings at the end of December declined over 4% and units under contract dropped almost 12%. Active listings followed this trend falling over 4%.
The median sales price increased by 4+% from November. Fewer listings and “snowbirds” looking for that perfect Tucson home may create further upward pressure on prices. Interestingly, Days On Market decreased by 1 Days – to 59 days. An indicator that listing prices were “on target” for the market.
The Fed raised the borrowing rate by .25%. Mortgage rates moved slightly, but 30 fixed mortgage rates remain around 4.00% in the Tucson AZ housing market. 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, even with further increases mortgage rates are still very low. Home price gains continue to offset the low mortgage rates in the Tucson market.
And now the Tucson Housing Market December 2015 Report
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!