April 2024 Land Report
In the Tucson Lot and Land market, March 2024 active inventory was 714, virtually unchanged from March 2023. There were 59 closings in March 2024, a 5% increase from March 2023. Year-to-date 2024, there were 159 closings, an 8% increase from year-to-date 2021. Months of Inventory was 12.1, down from 12.6 in March 2023. The […]
March 2024 Land Report
In the Tucson Lot and Land market, February 2024 active inventory was 707, a 3% increase from February 2023. There were 41 closings in February 2024, an 18% decrease from February 2023. Year-to-date 2024, there were 97 closings, a 7% increase from year-to-date 2021. Months of inventory were 17.2, up from 13.7 in February 2023. […]
Changing Land Markets: A Buyer’s Opportunity in Tucson, AZ (Part 2)
The pendulum has swung from a seller’s land market to one that favors buyers, creating a window of opportunity for people who want to buy land and build a custom home. As discussed in the previous blog, 2022 was a solid year for Tucson land sales. The year began by seeing multiple unexpected offers on […]
Changing Land Markets: A Buyer’s Opportunity in Tucson, AZ (Part 1)
Navigating the ever-evolving Tucson, Arizona, land market requires a keen eye for detail and an understanding of the myriad of factors that shape it. From macro influences like interest rate fluctuations, national and global political landscapes, employment dynamics, and stock market performances to local determinants such as housing inventory, price trends, supply and demand for […]
The Stock Market’s Impact on the Housing Market
At the end of 2021 and the beginning of 2022, the housing market was filled with cash buyers offering way over a seller’s asking price, making the market incredibly competitive and favoring sellers. But, as the federal government increased interest rates in March 2022, the economy slowed down, and the housing market shifted into more […]
Tucson, Arizona, Tops the List of 10 Hottest Housing Markets in 2020
At third from the top of hottest housing markets in 2020, Tucson, Arizona, is making a name for itself in the US national housing market. While the overall trend in the US housing market is generally cooling, Tucson and nine other cities are seeing strong growth in sales and prices. Realtor.com created a list to […]