real estate
City-by-city price guide: Tucson
This desert setting has seen land values drop to low levels and significant adjustments in new home prices, Porter says. It's on Local Market Monitor's list of overpriced markets. John Burns Real Estate Consulting expects resale prices to adjust in 2008, with the number of sales bottoming out at 13,000. After that, expect to see a gradual improvement in resale volume, due to job growth fueling demand, Porter says.
| | Median price end of 2007: | $235,800 | | Median price end of 2006: | $239,400 | | % change: | - 1.5% | | Projected change through Q3 2008: | - 15.4% | | Affordability rating: | 5.7 | | Foreclosures in 2007:
(1 for every 96 households) | 4,239 | | Foreclosures in 2006:
(1 for every 168 households) | 2,422 | | Change in foreclosures: | +75% |
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| Current rate comparison | Price trends
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