The U.S. housing market has continued to cool, as rising mortgage rates and record-high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income
has failed to keep pace with increasing mortgage payments, with the costs of buying a home about 80% more expensive now than they were just three summers ago, according to the National Association of REALTORS® (NAR). As more and more prospective buyers find their home purchase plans delayed, many are turning to the rental market, where competition has intensified due to increased demand.
New Listings decreased 3.4 percent for Single Family and 7.0 percent for Townhouse/Condo. Pending Sales decreased 14.1 percent for Single Family and 4.4 percent for Townhouse/Condo. Inventory increased 52.6 percent for Single Family and 26.9 percent for Townhouse/Condo.
Median Sales Price increased 16.7 percent to $385,000 for Single Family and 20.0 percent to $249,500 for Townhouse/Condo. Days on Market increased 50.0 percent for Single Family and 16.7 percent for Townhouse/Condo. Months Supply of Inventory increased 54.5 percent for Single Family and 37.5 percent for Townhouse/Condo.
At a time of year when homebuying activity is typically very strong, soaring homeownership costs have caused home sales to decline nationwide for the fifth consecutive month, with existing-home sales falling 5.4% month-to-month and 14.2% year-over-year as of last measure, according to NAR. But there is a bright spot. Inventory of existing homes has continued to
climb this summer, with 1.26 million homes available at the beginning of July, equivalent to a 3 months’ supply. And despite the summer slowdown, homes are still selling quickly, with the typical home staying on market an average of 14 days.
These numbers can be positive or negative depending on which side of the fence you are on… Buyer or Seller?
Below are some important charts of data to give you a visual of how the Tucson housing market is trending for July 2022.
CLICK ON THE CHARTS BELOW TO SEE THEM BIGGER.
Total real estate sales in Tucson for the month of July 2022 were 957 single-family homes sold and 162 townhouses/condos sold.
Which was -24.6% year-over-year change for single-family homes and -26.7% year-over-year change for townhouses/condos from the previous year as shown in the chart above.
In July 2022, the average sales price in Tucson of a single-family home was $459,820 and $274,969 for townhouses/condos.
Which was a +12.9% year-over-year change for single-family homes and a +18.0% year-over-year change for townhouses/condos from the previous year shown in the chart above.
In July 2022, the median sales price in Tucson of a single-family home was $385,000 and $249,000 for townhouses/condos.
Which was a +16.7 year-over-year change for single-family homes and a +20.0% year-over-year change for townhouses/condos as shown in the chart above.
In July 2022, the average days it took a single-family home to sell was 18 days and 14 days for townhouses/condos as shown in the chart above.
This was a year-over-year change of +50.0% for a single-family home and +16.7% for a townhouse/condo.
In July 2022, the number of active listings in Tucson, Arizona for single-family homes was 2,027 and 222 for townhouses/condos.
This was a +52.6% year-over-year change for single-family homes and a +26.9% change year-over-year change for townhouse/condos as shown in the chart above.
Active listings and home inventory numbers are a key indicator to keep an eye on.
If this downward or even slight increase in inventory continues, look for the Tucson housing market to continue to be strong and home prices to move up creating a sellers’ market in Tucson, Arizona.
As home inventory levels begin to decrease there is less to chose from. So when you see a home that you like that is properly priced moving quickly is key to getting your offer accepted.
As the number of listings decreases, sellers are poised to sell their home faster and for more money. Marketing and making your home look great are the keys to selling your home FAST and for MORE MONEY.
As a seller, your home is one of three listings:
Which type of listing do you want to be?
Having a skilled real estate team is the key to saving thousands of dollars when buying or selling a home with the least amount of hassles. Put the Tyler Ford Real Estate Team powered by Tierra Antigua Realty in Tucson to work for you. We would love to earn your business!
Will well sell your home in 90 Days Guaranteed or it’s FREE!
There are tons of good reasons now is a good time to buy a home in Tucson, AZ. Give us a call about home ownership today.
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September 2026 Tucson housing market: median sale price $350,000 (up 1.4% YoY), 675 closed sales, 4.86 months of supply, and 49% of active listings carrying a price cut. Full breakdown from Blaine Bond, REALTOR® with Tierra Antigua Realty.
August 2026 Tucson housing market: median sale price $345,000 (up 3% YoY), 678 closed sales, ~4.2 months of supply, and 48% of active listings carrying a price cut. Full breakdown from Blaine Bond, REALTOR® with Tierra Antigua Realty.
June 2026 Tucson housing market: median sale price $357,000 (up 1.9% YoY), 865 closed sales, 3.28 months of supply, and half of active listings carrying a price cut. Full breakdown from Blaine Bond, REALTOR® with Tierra Antigua Realty.
