Real estate in Southern Arizona is at its healthiest level in the past five years, according to the Tucson Association of Realtors September report. As a whole, the market is continuing to recover from the 2007 financial collapse, and prospects remain bright.
Though numbers in terms of sale prices and volume decreased month over month in September, it is no cause for alarm. Market experts do advice to not make large scale purchasing decisions based solely on market prices and a 50-year low in mortgage rates.
Total units sold in the residential market dropped to a total of 1,203, down from 1,276 in August.
Despite the continued downward trend, it is still important to note the numbers are an increase of 15.9 percent when compared to the same time last year.
Total active listings did increase, however. September saw a total of 4,909, a three percent increase from August.