Tucson-Nogales, AZ

There is no doubt that the Tucson-Nogales, AZ combined statistical area (CSA) has seen some major changes in the housing market over the past few years. These changes have been driven by a number of factors, including population growth, job creation, and changing demographics.

As recently as 2000, the CSA was one of the fastest-growing metropolitan areas in the country. This growth continued through the first half of the decade, fueled by a strong job market and an influx of retirees from other parts of the country. However, this all came to a halt during the Great Recession, when job losses and foreclosures sent shockwaves through the housing market.

Since then, we have seen a gradual recovery in both prices and sales activity. The median home price in the CSA is now back above $200,000, and sales volume has increased for five consecutive years. Despite these positive trends, there are still some challenges that need to be addressed. For example, inventory levels remain tight in many parts of the CSA, which is limiting choices for buyers and driving up prices. Additionally, affordability remains a concern for many families who are struggling to keep up with rising costs.

Looking ahead, it is difficult to predict where the CSA housing market will go in the next few years. However, if current trends continue, we can expect to see continued increases in both home prices and sales activity.