Tucson's 5 Real Estate Trends in 2017

1. The Central Tucson market will really start to heat up. We all know Tucson is pushing to urbanize and the downtown market is hot. The problem is that there aren’t many ownership opportunities downtown so buyers that want to be central are looking for the next best option. So what are those options? Neighborhoods like Menlo Park, Dunbar Springs, Barrio Viejo, Armory Park, West University, Sam Hughes, Feldman, and Jefferson Park. With a shortage of listings in those neighborhoods we’re operating in a tough market for buyers. Want to see our listings before they hit the market? Click the contact tab and subscribe to our newsletter.

2)  California buyers will start bringing the $ to Tucson. Californians are being priced out of California and are searching for other states to live in or invest in. As those priced out buyers are looking for other areas to move or invest to they look to Arizona, as we are hours away, and live a similar lifestyle at a fraction of the cost. We felt it happen during the second half of 2016 and are expecting a much larger California-Tucson migration. It happened in the early 2000's and it's happening now.


3) The $300,000+ market will finally start to pick up. The $300,000+ housing market has been slow ever since 2008. With the recent Caterpillar move, Raytheon expansion and other large employers moving to Tucson we are starting to get buyers that can afford $300,000+ purchases. This is great news for home owners that own homes that have homes worth more than $300,000 and have had trouble selling.


4) Millennials will start to move into the market. We’ve read more than enough articles on millennials and have had enough of their craft beer drinking and fake glasses so we will keep it short but they will impact our local market heavily in 2017. Which markets? The $100,000-$200,000 markets, the Central Tucson markets, and the 2 bedroom markets. 


5) Older homes will start to trend. As HGTV shows and vintage homes become even cooler than they ever were we will see the old bungalows and row homes start to trend at a level we’ve never seen before. Who will be buying the bungalows and row homes? Caterpillar employees, Raytheon employees, and California Investors. Want to know more about this market? Fill out the contact form and let us know how we can help you sell or find an older bungalow or row home.


 
What will happen to interest rates? We stopped guessing when the economists were wrong year after year for the past 5 years. Current interest rates are around 4%

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Brulé & Fisher listings (below) hitting the market within the next couple of days. Schedule a showing before they hit the market!
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