ARIZONA DAILY STAR:  Sat., June 6, 2009

Local housing market keeps improving

 

Tucson's housing market continued its slow march to recovery last month as inventory continued to drop, home sales went slightly up and the median home price bounced up a bit, too.  The median sales price rose to $170,000 last month, up about 3.7% from April.  Meanwhile, month-over-month home sales increased slightly to 987 in May, compared with 923 April. That's still less than a year ago, when there were 1,070 home sales.

Month-over-month pending contracts were down slightly in May, with 1,302 potential deals. Active listings continued their steady decline since October, driven down by sales and homes taken off the market.