Tucson Housing Market: an Investor Friendly Situation
I wanted to share some information from furtunebuilder.com. They were talking about the Tucson real estate market I think will bring new business to the area. The article talks about how Tucson continues to grow consistently despite being behind the national average. The article mentions the reason for this and Tucson " saving grace" is home prices. Tucson continues to be one of the most affordable markets in the country which makes it a incredible opportunity for new home owners and real estate investors.
The reason the Tucson market is an investor friendly market comes from the appreciation of housing prices. Year after year housing prices continue to appreciate in Tucson. This make for strong investment opportunities especially in house flipping. Although below the national average, Tucson continues to show great potential as a break out market.
The Tucson market is so strong for real estate investors for two other reasons. First. the median home prices in Tucson is well below the national average. Tucson medium home prices falls just shy of $200,000, compared to the national average of $239,167. This coupled with the over 2000 homes in some form of foreclosure make Tucson a bull market when it comes to investing.
According to the article "The National Association of Realtors (NAR) has forecasted the Tucson real estate market to grow consistent with the national average in the second half of 2016" This along with the increased appreciation in home values, and the below average home price allows for Tucson to be a competitive investment market toward the end of 2016 and possibly well into 2017.