Housing market uncertainty in southern Arizona. Tucson broker Bridgett Baldwin gives home buyers and sellers advice before the end of the year.
TUCSON, Ariz. — A new report from the National Association of REALTORS says there were 516 homes sold in Tucson in July 2023, that's down from 683 homes sold in July 2022. Economists say high mortage rates and a shortage of houses are two of the biggest factors impacting this decrease.
Although mortgage rates have climbed to their highest levels in 21 years, Baldwin says that should not discourage you in the home buying or selling process. On average, homes in Tucson sell after 42 days on the market compared to 36 days last year. However, the Tucson area is still a desired area to buy. Especially in the winter months.
She says it's hard to forecast the housing market and where it will go by the end of the year. Baldwin says one thing is for certain— buy or sell when it fits your needs and especially your budget.
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