Tucson Realty Review November 2014 Issue
The Tucson Realty Review November 2014 Of The National And Tucson Real Estate Market
Tucson Realty Review November 2014 – The National View
As we close the books on the third quarter, 2014 is bucking that trend, though credit availability and supply continue to be limiting factors.
The pace of existing home sales in September increased 2.4%, more than reversing a minor August decline. The 5.17 million annualized rate was beneath the September 2013 level of 5.26 million, but last year’s total was elevated by more distressed sales.
With the pace of sales increasing, existing home supply tightened to 5.3 months from the 5.5 level we saw all summer. A lack of inventory from both new and existing homes continues to be a key factor limiting sales.
Tucson Realty Review November 2014 – Baby Boomers Find Tucson AZ
Baby Boomers are a growing segment of home buyers. Either they are retiring moving to warmer climates or they are purchasing second home in warm weather destinations. Tucson is at the top of the boomer list for a home buying destination. Learn more…..
Tucson Realty Review November 2014 – Home Inventories
The inventory of houses for sale increased in October by 3.9% over September which was up over August. The median existing-home price for all housing types — single-family homes, condominiums, co-ops and townhouses — in October $166,500 was up 7.42% over October 2013.
Tucson Realty Review November 2014 – The Local Tucson Market
So far, 2014 sustains the trends of 2012 and 2013 with another month of year over year gains. However, 2014 price increases have slowed.
Tucson MLS active listings have increased to over 5,600 units. That is roughly a 600 unit increase in 3 months.
Foreclosure filings continue to decline overall, however, in some local areas continue to adversely effect selling prices.
The Tucson housing market continues to see buyers dominating the market for homes over $600,000. However, sellers are now in control in the under $175,000 price range. The middle of these two price ranges is in flux between buyers and sellers. Buyers are strong at the higher end of the range, sellers in the lower portion.
The rest of 2014 will see snowbirds returning to Tucson AZ. After last years winter additional visitors may be coming to Tucson. Some will likely want to buy a Tucson home. On the other hand, some returning snowbirds may consider selling the one they have. We will just have to wait and see.
This months Tucson Realty Review September 2014 highlights popular communities in the Tucson area include Miraval Homes, and homes in CFSD District 16. There are still great prices on luxury homes and Dove Mountain properties.
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