Home Values in Tucson Compared to the Nation
How are home values in Tucson?
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If you are in the market for a home, you know this: The housing market is a buyers market.
According to The National Association of REALTORS® Housing prices vary by region. The aggregate median existing-home price is projected to fall 6.2 percent this year to $205,300, and then rise by 4.3 percent in 2009 to $214,100up 9.1 percent to $183,800 from $168,500 in the same quarter last year. The median is the typical market price where half of the homes sold for more and half sold for less.
Existing-home sales in the West increased 2.0 percent to an annual pace of 1.02 million in May, but are 12.8 percent below a year ago. The median price in the West was $286,600, which is 16.0 percent lower than May 2007.
The Tucson Association of REALTORS® released the May 2008 statistics and all indicators point to a recovering market. Home sales volume increased 4.12% over April 2008. For a detailed report click here to view the Tucson Monthly Statistical Digest.
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