Tucson, Ariz.

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Real Estate Guide 2007

Analysis by region

National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.


City overview	Select an area:

Tucson, Ariz

Retirement-heavy Tucson, which adds about 6,000 new residents a year, is seeing builders discounting prices to meet targeted sales volumes. It's also earned a spot on Local Market Monitor's quarterly list of overpriced markets, with home prices 40 percent higher than equilibrium.

4th quarter 2006:	$239,400
Median price 4th qtr 2005:	$246,200
% change:	-2.8%
Projected avg price end of 2007:	$266,540
Current avg 30-year fixed rate:	5.78%
Current avg 5/1 ARM rate	5.60%
*Affordability rating:	5.7
Foreclosures in Jan. 2006: (1 for every 704 households)	521
Foreclosures in Jan. 2007: (1 for every 651 households)	563
Change in foreclosures:	8.06%

Current rate comparison:

» Click here for state vs national rates

Key market events

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	Dec. '05: Median price $246,200
	Jan. '06: 30-yr fixed rate at year's low 6.10%
	June '06: National median home price $227,100
	June '06: Fed makes last of 17 rate hikes
	July '06: 30-yr fixed rate at year's high 6.80%
	Dec. '06: Median price falls 2.8% to $239,400
	Jan. '07: National median home price: $210,600