The year 2010 in Tucson was a stark contrast to today. Remember the housing market crash, with a hefty 7,000 homes sitting on the market compared to today's current number of approximately 2800 homes. That's a significant reduction, but considering our nearly 1 million residents, we're still playing catch-up.
The good news is we're gradually regaining lost inventory. December 2023 saw a healthy 38% jump compared to November, offering hopeful signs for buyers. Even 20 brand-new, never-lived-in homes are waiting to be claimed, scattered across the city.
But if you're looking for immediate options, "Quick Move-In" homes from specific builders might be ideal. These are already built but come with limited customization. Interest rates are on a downward trend, potentially opening up more opportunities later in the year.
As a buyer, pre-owned homes with existing amenities like window coverings, landscaping, and appliances are worth it. While the allure of new construction is strong, these can often save you the headache and expense of adding extras yourself. Trust me, as a seasoned homeowner, those hidden costs can add up quickly!
Ultimately, the Tucson housing market is on the mend, slowly shifting towards a balanced equilibrium. Whether you choose new or pre-owned, remember to factor in the initial price and potential additional expenses down the road; if you buy new, consider the cost of window coverings, appliances, and landscaping. If you decide to buy used, consider buying something under ten years old for less maintenance. Your real estate journey starts here. Let's unlock your property potential together. Give me a call or send me a text for a free consultation. 520-637-5975