Tucson real estate market ‘like running in molasses’

slower than molasses copyBy Emily Bregel | Arizona Daily Star

The real estate market in Tucson continues to warm, but won’t be hot anytime soon, local brokers said Thursday.

“It’s like running in molasses,” Tucson Realty & Trust Co. CEO Hank Amos said at the firm’s annual forecast meeting. “We’re moving forward, but it’s kind of slow.”

Lagging business activity — and skittish business owners hesitant to expand — means less commercial leasing in Tucson, Amos said.

“It wasn’t as bad as it has been. We’re definitely off the bottom,” he said.

But residential real estate activity is up, due to pent-up demand from buyers and all-time low interest rates. Foreclosures hit a five-year low in 2013, boosting resale home prices, said Bob Solfisburg, land specialist.

Continued: 

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

PRTA suspends operations

(Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County who have worked to bring new transportation infrastructure to the

Read More »