/ Modified may 22, 2015 5:13 a.m.

Tucson Home Sales Strengthen; New Construction Behind

Year-to-date sales up 3.6%; average price up 5.1% to $208,000, Realtors association reports.

sonorans buying homes spot
azpm

Tucson residential real estate sales continued their rebound in April from the sluggish market of the last few years, with a 6.3 percent increase in number of houses sold compared with last year, the Tucson Association of Realtors reported Thursday.

The monthly market report said 1,383 houses sold in Pima County in April, compared with 1,301 one year ago.

Additionally, the average sales price for the month was $210,749, up 6.9 percent from April 2014.

Through the first four months of the year, the number of house sales was up 3.6 percent, and average price rose 5.1 percent compared with the first four months of 2014, the association reported.

Housing starts continued to lag last year, with 655 residential construction permits drawn countywide, down 11.6 percent from the total a year ago.

The report said housing starts remain low locally and nationally because young adults - specifically, those in the millennial generation - are not buying houses yet. It said the earliest indicator of their move from renting to buying will be improvement in the townhouse construction market.

By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
Arizona Public Media broadcast stations are licensed to the Arizona Board of Regents. Arizona Public Media and AZPM are registered trademarks of the Arizona Board of Regents.
The University of Arizona