/ Modified apr 21, 2016 4:50 a.m.

First-Time Buyers Push Tucson Housing Market's Strong Trend

Lower-priced sales dominate post recession volume, Realty association reports.

House, Housing, Real Estate spot

Listen:

The Tucson Association of Realtors reported Wednesday that 1,480 Tucson-area homes were sold in March.

The local market has not had that good of a March since 2006.

Most of those homes sold for less than $180,000.

So who is buying houses in Tucson?

“Your first-time homebuyers," said TAR President Eric Gibbs. He said the Pima County Down Payment Assistance Program has helped some buyers.

"We’re also seeing millennials coming into the market," Gibbs said."They’ve graduated college, they’ve been out in the workforce for a while and now they’re able to purchase they’re first home.”

March marks the fourth straight month the total number of homes sold was at a decade's best.

Total sales volume was more than $315 million, the best March since 2007. That number has also been at post-recession bests since December.

On this week's Friday Business Report, hear Gibbs' thoughts on the question, 'Has Tucson recovered from the housing bubble burst?'

Available on iTunes
Subscribe to the the Arizona Business Report on iTunes
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.
AZPM is a service of the University of Arizona and our broadcast stations are licensed to the Arizona Board of Regents who hold the trademarks for Arizona Public Media and AZPM. We respectfully acknowledge the University of Arizona is on the land and territories of Indigenous peoples.
The University of Arizona