TAR: July home sales dip, prices mixed

The Tucson-area housing market had mixed results in July as home sales declined and sales prices were mixed, according to the Tucson Association of REALTORS® Multiple Listing Service (TAR/MLS).  Month-over-month, unit sales and the average sales price decreased; while the median sales price increased.

Housing highlights for July 2014:

• Unit Sales of 1,176 homes were 9.3% lower than June (1,297 homes)

Year-over-year: 6.9% lower than July 2013 (1,263 sales)

• Total Sales Volume of $241.4 million was 12% less than June ($274.4 million)

Year-over-year: 3.2% lower than July 2013 ($249.4 million)

• Median Sales Price of $170,000 was 0.7% higher than June ($168,815)

Year-over-year:  6.3% higher than July 2013 ($159,900)

• Average Sales Price of $205,259 was 3% lower than June ($211,600)

Year-over-year: 4% higher than July 2013 ($197,444)

• Active Listings of 5,149 were 2.55% lower than June (5,284)

Year-over-year: 30.9% higher than July 2013 (3,933 units)

• Conventional Loan Sales were 40%; cash sales were 26%

TAR/MLS Residential Report:   https://tucsonrealtors.org/tar-v2/statsJuly2014.pdf

TAR/MLS Rental Report:  https://tucsonrealtors.org/tar-v2/statsRentJuly2014.pdf