"In December, Tucson experienced a notable 14.2% increase in active listings compared to the same month last year, reaching a total of 2,490. This surge in inventory outpaced the national growth rate of 12.1%. The city also welcomed 690 newly listed homes, marking a 4.9% increase year-over-year, in contrast with a national decline of 1.8%. The combination of rising active listings and increased new listings suggested a shift toward a more balanced market in Tucson, offering buyers a wider array of choices."
"The median listing price in Tucson was $370,000 in December, reflecting a 2.0% decrease from the previous year. This decrease was more pronounced than the national median price decline of 0.6%. Additionally, the share of listings with price reductions in Tucson was 13.2%, a slight drop from last year by 0.5 percentage points, while the national trend saw a minor increase. These trends indicated a softening in Tucson's housing prices, presenting buyers with more competitive and appealing options."
Tucson saw a 14.2% increase in active listings in December, reaching 2,490 homes, which exceeded the national growth rate of 12.1%. The city added 690 newly listed homes, a 4.9% year-over-year rise compared with a 1.8% national decline. The median listing price was $370,000, down 2.0% year-over-year, a larger decline than the national 0.6% decrease. The share of listings with price reductions was 13.2%, down 0.5 percentage points from last year. Homes spent a median of 65 days on market, up 10.3% year-over-year but still shorter than the national median of 73 days. These indicators point to softer prices, greater choice, and more negotiating leverage for buyers.
Read at SFGATE
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