By Gabriela Rico | Arizona Daily Star
After a rough start to the year, sales of new homes in Tucson have taken an upswing to levels not seen since 2007.
The closings for both May, at 362, and June, at 348, are the highest monthly levels since the year before the housing crash, data from R.L. Brown Reports shows.
But, at the current rate of construction, the Tucson market is at least five years away from catching up with demand and seeing any cooling of new home prices.
Homebuilders, apparently feeling the optimism, pulled 329 new-home permits in June, an 18.77% increase over June 2022.
“Tucson is holding its own during this period of uncertainty in the housing market,” said David Godlewski, president of the Southern Arizona Home Builders Association. “We expect this momentum to continue for the second half of the year.”
