Categorized | Residential

Tucson Defends the Health of Its Real Estate Market

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Despite the most recent reports that gave Tucson, Arizona the dubious distinction of having the worst real estate market in the United States, realtors in the city claim that the city’s housing market is doing well. It is its vacancy rate of nearly seven percent that earned it the less than stellar title.

However, realtors in the area have been quick to defend the city, claiming that the majority of vacant homes were actually second homes for most people. They believe that the vacancy rate should not have been used in the report due to its inaccuracies. In addition, realtors are also speaking out against the use of median price. The city has seen the sale of some very low-priced homes as of late, which pushed the median sale price down.

Other published reports have actually placed Tucson near the top of the best real estate investment opportunities. It is these conflicting reports that lead many to question just how healthy or unhealthy the Tucson housing market is. After all, home prices have dropped over thirty percent in the past few years, and two out of every one hundred homes sold winds up in foreclosure.

If there is one thing that is for certain about the Tucson real estate market, it is that it has become a great market for buyers. With an improving unemployment rate, and low prices on houses, buyers are starting to recognize Tucson as a great place to buy a new home. Realtors argue that the report that called it the worst real estate market couldn’t be more wrong, and that the city is quickly growing due to its affordable housing options

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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