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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
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Tucson, Ariz
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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%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
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
-- Posted: March 8, 2007




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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.08%
15 yr fixed mtg 3.23%
5/1 ARM 3.46%
Rates may include points
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