Experts: Many factors contribute to increase in Tucson home sale - Tucson News Now

Experts: Many factors contribute to increase in Tucson home sales

More homes were sold in Tucson in August 2015 compared to the same month last year. (Source: Tucson News Now) More homes were sold in Tucson in August 2015 compared to the same month last year. (Source: Tucson News Now)
TUCSON, AZ (Tucson News Now) -

More homes were sold in Tucson in August 2015 compared to the same month last year.

The Tucson Association of Realtors recently released statistics that show an 11 percent increase in sales, which equates to nearly 1,500 homes.

The organization’s communications director Janet Wood said there are several reasons for the increase.

“Tucson’s real estate market is still recovering from the effects of the great recession,” she said. “What we are seeing now is a combination of positive factors: continuing historic low mortgage rates, higher wages and increasing employment.

"At the same time we've had an increase in population and more and more college grads starting their own independent lives.”

Bob Helmig of Tierra Antigua Realty has been a local realtor for 10 years. He said the amount of clients he’s getting reflects the findings by the Tucson Association of Realtors.

"I think this has been my busiest year since 2006," said Helmig.

He said out of people who are buying for the first time, downsizing, or moving to a bigger house, the first-time home buyer is the biggest customer in the market.

“Sales are up because demand is high,” he said. "It's a seller's market."

John Condes is one of Helmig’s customers. It took Helmig four days to sell Helmig's old house. "It was nice it happened so quickly."

Nora Corral, is a first time home owner. She and her family just purchased a home and moved in two weeks ago. She said the process to buy a home intimidated her, so that's why it has taken her years to get to this point. She was surprised by the short amount of time she had to put in an offer. "Every time I would find a home, it would be gone the next day," said Corral.

If you're looking to buy a home, but don't know where to start, the Mayor of Tucson has an initiative to help first time home buyers. Click here for more information: http://www.mayorrothschild.com/initiatives/help-for-homebuyers/

“What we know in Tucson is our level of home ownership is not where it should be,” said Tucson Mayor Jonathan Rothschild.

“Neighborhoods that are full of homeowners are safer, they’re cleaner, they’re more social, the studies show the students who live there do better in school," he added. "Remember, we’re trying to build a community. You do that with home ownership."

Copyright 2016 Tucson News Now. All rights reserved. 

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