fill
fill
fill
Susie Hall
Tucson - Foothills
fill
(520) 918-4823
SusieH@
LongRealty.com
fill
fill
fill
fill
fill
Buying a Home
fill
myPropertyAlerts
fill
Mobile App
fill
Selling a Home
fill
Open House Search
fill
90 Years Strong
fill
Long Home Advantage
fill
Mortgage Rates
fill
Finance Tools
fill
fill
fill
fill fill
HOUSE NUMBER
fill fill
fill fill fill fill
fill
and/or
fill fill fill
fill
STREET NAME
fill fill fill
fill fill fill
fill
CITY
fill fill fill
fill fill fill
fill
MLS NUMBER
fill fill fill
fill
You can enter multiple MLS Numbers separated by a comma.
fill fill
fill fill fill
fill
fill
fill

Balance Returns to Arizona Housing

May 27, 2014

Balance Returns to Arizona Housing

For the last decade, the local housing market has been driven by extremes. In the early 2000’s fever-pitched demand and readily accessible financing (one could say too readily available to some borrowers) led to an overheated run-up. Then the housing bust, driven by an economic great recession, a flood of distressed properties, a tight squeeze on financing and a shrinking pool of buyers. Then the market bottomed out in 2011 and for the last 2 years we have been in a recovery trend.

What we haven’t seen in all these years is a normal (or balanced) market. Welcome to 2014, because a more normal market is where we are right now. While some parts of the nation are still experiencing a shortage of listings, in Arizona we are currently at a more balanced position. The rate of pricing appreciation this year has slowed and distressed sales are drying up. These are all signs of good health.

Normal is good. The charts below show the balance of supply to demand in Tucson’s housing market, and affordability trends in Phoenix and Tucson. You’ll note that while the overall market is more balanced, different conditions exist at various price points. Monthly payment on a median priced home is up slightly from the market bottom, due to rising prices and interest rates slightly off lows, however with a more stabilized and normal market the rate of increase in costs of purchasing a home should slow to a more normal pace.

As always, your Long Realty agent is the best source of information on your local market and what it means for your situation.

Tucson Months of Inventory - 6 Months

Tucson Months of Inventory by Price Range

Monthly Payment on a Median Priced Home

These statistics are based on information obtained from TARMLS and ARMLS on 05/05/2014. Information is believed to be reliable, but not guaranteed.

Real Estate Market Articles

How to Get the Most Money from the Sale of Your Home

Here are five reasons listing your home for sale this fall makes sense

5 Reasons Why You Should Not For Sale by Owner

Do Your Carpets Need to be Refreshed?

Top Reasons You Should Sell This Summer

Protect Yourself From Consumer Wire Fraud

The Truth About Home Mortgage Rates and Downpayments

April 2017 Federal Reserve Interest Rate Update 

The Great News About Rising Prices for Homeowners

The #1 Reason to Sell Now... Not Next Spring

How Historically Low Interest Rates Increase Your Purchasing Power

The Real Estate Market Is Getting Stronger

How Scary is the Housing Affordability Index?

Do Homeowners Realize Their Equity Position Has Changed?

Put Your Housing Cost To Work For You!

How To Get The Most Money When Selling Your House

5 Great Ways to Save on Moving Costs

Important Things You Need to Know To Be Ready for the Changes in Mortgage Laws

The Market Warmed Up in May

Homeownership as an Investment: The Role of Price Appreciation

Why Tax Planning for Real Estate Has Become More Important

February Sees an Uptick in Real Estate Activity

New York Times: Homeownership is Best Way To Build Wealth

Harvard's 5 Financial Reasons to Buy a Home

Luxury Housing Is Alive

Balance Returns to Arizona Housing

Want to Sell Your House? Price it Right!

It's a Price Sensitive Market, Again

Is Housing Returning to a Balanced Market?

Trends in Arizona Housing

Housing Market Trends through 2013

Luxury Housing is Coming Back

Mortgage Interest Rates: Where Are They Headed?

Tips for Home Shopping in a Seller's Market

FHA Will Increase it's Annual Mortgage Insurance Premium

State of the Tucson Housing Market

Arizona Housing Not So Distressed Any More

Tucson Housing Deflating or Recovering? Get the Real Story

In Real Estate it’s also Price, Price, Price

A Message To Homeowners - Things Have Changed…

A Shortage of Housing Inventory?

Signs of an Arizona Housing Recovery

The Arizona Luxury Market Breathing Life

Tucson Home Prices Up 7% in March

Is the Tide of Distressed Home Sales in Arizona Changing?

The Start of the Housing Upturn

What’s Up With the Arizona Housing Market?

Arizona Housing Gains Momentum Heading Into 2012