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Wednesday, February 20, 2013

January Tucson Home Market is Steady

I think we can now safely declare that the Tucson home market has bottomed out.  Both average and median sale prices have been pretty stable for the past seven months, as has the number of home sales each month.

Most of the activity continues to be in the lower price ranges, but homes even in the 200,000 - 350,000 range are moving faster in some areas of town.  Cash continues to be king, with 36.7% of January Tucson home sales being cash transactions.  The number of homes under contract was up 19% in January, so we will watch to see if that does foretell an increase in actual closings in the next month or two.

To see the full report on January Tucson home sales, click the link below.

January 2013 Tucson Home Sale Statistics

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