Home sales in Tucson are beginning to slow down, according to RealtyTrac, a company that analyzes real estate data.
It's latest report shows 19,489 homes were sold in the Tucson area last month, which is a drop of 2 percent from the same time last year.
The median sales price is increasing, going up 7 percent, also compared to this time last year.
The drop in home sales in Tucson is mostly due to the decrease in distressed homes on the market, which is making prices go up.
“It’s been a great time to buy near the bottom of the market in Arizona and Tucson over the last year and a half," said Daren Blomquist, vice president of RealtyTrac. "But now a lot of those deals are going away as the foreclosure inventory clears out.”
Bank-owned home sales still make up 14 percent of the market. Blomquist pointed out that is a notable drop from the height of the real estate crisis when it was near 50 percent.
He also said another sign prices are starting to increase is a drop in large-scale investors, such as hedge funds buying houses in the Tucson market.
Such groups made up 17 percent of home sales in January 2013, but last month, they only made up 7 percent.