Belfiore Real Estate Consulting Publishes June Tucson KnowledgeBase Current & Future Market Insights Publication, The Spring Selling Season Moves Into Full Swing
Belfiore Real Estate Consulting released the June 2015 edition of its Tucson KnowledgeBase Current and Future Market Insights publication. As highlighted in the report, the Metro Tucson Area new home market improved substantially over the last two months. Year-over-year, new home sales rose 3% in April and 9% in May. Homebuilders in the region had greater success in converting traffic into actual sales than earlier this year, driving Metro Tucson Area total new home sales volume to a near two-year high. Moreover, new home prices, which had previously been chronically flat, appreciated considerably during this period, moving up 0.5% over the last two months.
However, due to underperformance in February and March, growth of the housing market so far this year as a whole has still not been as strong as many expected at the start of the year. Furthermore, slowing traffic levels suggest this year’s sales levels have likely already peaked and, accordingly, Belfiore Real Estate Consulting projects overall minimal new home price appreciation this year. As expounded in the report, “…the herky-jerky manner in which the market has performed over the last 6 months suggests the continuance of a slow and uneven recovery.”
Those seeking a copy of the latest KnowledgeBase Current and Future Market Insights or comments on recent, current, or future Tucson housing market conditions may contact Jim Belfiore at Belfiore Real Estate Consulting, 480-706-1002, jimbelfiore@belfioreconsulting.com.
Belfiore Real Estate Consulting is Arizona’s only full-service, independent, fee-based residential real estate consulting firm. The firm services all Arizona housing markets, supporting investors, developers, homebuilders, and lenders with off-the-shelf data and advisory products, as well as custom feasibility analysis. Belfiore Real Estate Consulting celebrates its 10 years of providing quality and timely real estate information in 2016.
