In what could be interpreted as something of a reversal in an already slow recovery of the residential real estate market, Long Realty reports August active inventory in the market was up 19 percent from a year ago, outpacing closings that were up 4 percent. Months of inventory were also up to 3.5 from 3.1.
Also, compared to August 2012, the Tucson market added 1,344 new properties under contract, down 9 percent from a year ago.
A positive indicator is that the median price of sold homes in August 2013 was $159,000, up 10 percent from August 2012.
