/ Modified sep 13, 2016 10:59 a.m.

Tucson Housing Market Rebounds After Weak July

Local home sales went up in August after dropping last month.

House, Housing, Real Estate spot

Tucson home sales looked strong in August after a slump in July, according to data from the Tucson Association of Realtors.

More than 1,400 homes sold in the area last month, slightly more than were sold the previous month. The local market saw a 15 percent drop in sales from June to July.

To local realtors, the bounce back is good for multiple reasons. It shows July's low sales were more than likely an anomaly, and it carries some promise for what is often a down season for the market.

“I think we’re going to continue to see that momentum moving forward into September and October that could be some strong signs there that we may start to say we’re kind of, maybe, out of the woods," said association president Eric Gibbs. "Who knows just yet? It’s still a question mark.”

Gibbs said there is one area that concerns him. Total active listings dropped to 3,919. That leaves the market with less than three months of total inventory.

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