/ Modified apr 21, 2016 7:17 p.m.

Has Tucson Residential Real Estate Market Recovered?

Four consecutive months of positive indicators, most March sales in 10 years.

Biz Report Housing
Zac Ziegler

The Friday Business Report takes a look at Tucson's recovery from the recent housing bubble.

Tucson’s residential real estate market was hit hard when the bubble burst. Unit sales and total sales volume bottomed out at less than half of what they were at the peak of the market.

The market has slowly worked its way out of that hole ever since. But key statistics have been at pre-bubble levels the past four months. Has the market recovered? AZPM’s Zac Ziegler asked that question of Tucson Association of Realtors President Eric Gibbs.


His answer, not quite yet. Weak sales of middle-to-high-end homes and low inventory are still issues, though if trends continue as they are, Gibbs said the market may hit that point in 2017.

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.
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