Homebuilding on an uptick in Tucson

(Disclosure: Rose Law Group represents Chicanos Por La Causa.)

By Gabriela Rico | Arizona Daily Star

Home building is on an upswing in Tucson, as buyers accept the reality of higher interest rates and existing homeowners continue hanging onto their low rates by staying put.

Permits for new homes were up almost 130% in the first part of the year, compared to the same time last year — 341 versus 784 this year.

The average new home price is now over $430,000, but holding steady and not soaring as prices are in some markets.

The resale market remains flat with an average sales price of $409,000.

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April 25, 2024

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