Tucson Housing Market News
Source: Arizona Daily Star
Tucson’s housing market held steady in February with gains in home prices and the lowest number of monthly foreclosures since March 2008.
The median sales price last month was $149,000, an increase of more than 19 percent over February 2012, statistics from the Tucson Association of Realtors Multiple Listing Services show.
Cash sales continued to increase and reached 40 percent last month, up from 36 percent in January.
Unit sales also increased, from 884 in January to 951 last month.
Records from the Pima County Recorder’s Office show 279 foreclosures in February – the lowest number since March 2008 when 275 homes were sold in foreclosure.
That number had steadily climbed and peaked in December 2009, when 706 homeowners lost their houses to foreclosure, records show.
That year, a total of 5,826 houses went into foreclosure.
