TUCSON REAL ESTATE MARKET TRENDS NOV 2022 - Happy Holidays!
What's Happening With The Tucson Real Estate Market Through The End Of 2022?
In this post we're going to dive into the Tucson real estate market trends through November 2022. Be sure to check out the whole post for some fantastic Tucson Real Estate insights in addition to some pointers for moving this coming year.
Buying A Home In Tucson Over The Holidays
Buyers are starting to see some settlement power in the market. It's awesome, because we are no longer dealing with many offer situation's day-to-day. In fact as house rest on the market longer, sellers are ending up being more cost effective, and amusing under asking rate offers and offering counter uses to purchasers. For buyers this recommends there is some settlement power for them. Purchasers are negotiating closing expenditures and raped by downs from sellers at this time. This is incredibly different from the last two years
While rates of interest are higher than they were a couple of months earlier, they are still sitting in the mid 7 percent variety.
Historically, that relates to average. Keep this in perspective. In the 1980s the rates were 15 and 17%. The point of this is that it is all relative. Well it might appear that the rates are much higher than they were, over the long term there still at a good location.
The bottom line for purchasers to concentrate on it is the price of their month-to-month payment. Aspect that in with rising lease rates, and even with a greater rate are you still might find yourself with a lower regular monthly payment then paying lease
Tucson Real Estate Market Holiday Summary
At the end of the day the market is certainly shifting. Financial aspects such as political influence, and inflation have impacted rates of interest. Raising rates have triggered a slow down in the purchasing feeding craze we've experienced over the last two years. Which has likewise lead to an increase in stock.
It's just basic economics...
We are getting more supply offered and less demand, therefore the market slow down we are experiencing today.
Just keep in mind it's all cyclical.
If you have any concerns or concerns about the Tucson market. I more than happy to assist.
Simply click on this link and schedule a call with me.
I'm happy to spend a couple of minutes on the phone explaining the information and how it would impact your particular scenario.
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