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As national real estate market shifts, Tucson stays the course

Houses below $350k still in a seller's market
Posted at 11:23 AM, Mar 26, 2019
and last updated 2019-03-26 15:54:46-04

TUCSON, Ariz. — A new report shows mortgage rates are staying low nationally -- that means the real estate market is shifting toward buyers.

But that's still not the case in Tucson.

Stephen Woodall, a local real estate agent with Long Realty, says Tucson is still a seller's market for homes up to $350,000. That's where the market evens out -- until the high-end homes, which have more inventory available in Tucson, making it a buyer's market.

If a home costs less than $350,000 in the Tucson area, it's probably moving pretty quickly.

"If it's the right property for you, you definitely want to make a move on it pretty quickly if you're at those lower price points," Woodall says. "Those buyers who are looking at a higher price point home tend to have a little bit more flexibility with being able to wait."

Still, experts say the real estate market is always very localized and changes from city to city, or even from neighborhood to neighborhood.