How's the Tucson Real Estate Market?
Curious about the market? Because interest rates are still historically low, it's a great opportunity to lock in a mortgage rate. Because of low inventory, inflation, and the high number of active buyers, It's a great time to list your home for top dollar!
Tucson is currently a hot seller’s real estate market – this means that the demand from buyers is exceeding the current supply of homes for sale. The pricing of homes is trending higher and is more attractive for sellers in the current phase. The shortage of supply and an increase in the demand for housing will push the prices higher in the Tucson housing market.
Months Supply of Inventory for single-family homes was just 1.1 in February 2022, which means it will take about four weeks for the current inventory of homes on the market to sell given the current sales pace.
In 2022, signs indicate that buyer demand will remain high, and constrained availability will continue to encourage multiple offers and higher prices across much of the housing inventory. Mortgage rates are likely to rise and through 2022.