Tucson housing market as hot as the weather

By: Brian Brennan

TUCSON, Ariz. — The housing market is unseasonably strong across the country with asking prices in July up 13 percent compared to the same time last year.

“It’s hot! I always tell my sellers it’s a great time to sell and when we go to buy its going to be a bit rocky,” said Tucson Redfin Real Estate Agent Kristi Penrod.

Penrod says the pandemic has brought down supply and boosted demand. According to a Redfin report, prices are up in the summer when things normally start to lag. There are fewer houses on the market, record low interest rates, and pandemic precautions are creating bottlenecks.

“Every transaction right now is a little harder too.”

Penrod says another trend is picking up steam. People working from home moving out of expensive cities.