There are more realtors in Tucson than homes for sale

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TUCSON, Arizona (KOLD News 13) – Did you know you live in one of the best real estate markets in the country?

Rent Cafe named Tucson the 15th Hottest Rental Market in the United States.

The researchers there said we ranked 15th because 96% of rental homes in the Tucson area are occupied.

When moving out, the apartment is empty for an average of 31 days. During that time, about 14 different people check it out.

This high demand is currently making it difficult for Tucson buyers.

In fact, there are more real estate agents for sale in Tucson right now than there are homes for sale.

How is that possible?

This is due to a low inventory.

Diane Marzonie, president of the Tucson Association of Realtors, said many people had taken their homes off the market because of COVID-19 concerns.

This left fewer things to buy, but the buyer’s market never changed.

Now it has increased competition.

According to the Multiple Listing Service, there are currently only 1,062 listings but more than 6,200 agents in the greater Tucson area.

That’s almost six brokers plus their customers per listing of single-family homes, townhouses, condominiums, etc.

What does this mean for buyers?

You better have your ducks in a row so you buy when you are ready to buy.

New offers appear every day, but 70% are bought up immediately.

When do agents think this extreme competition will change?

“Because people feel like they can open their homes because more people are vaccinated or more people are taking action for relief. If that level of confidence increases, I think we will bloom like a flower, ”said Marzonie.

With brokers unable to predict the future, Marzonie said it was a waiting game for that to happen.

Brokers hope the property market will calm down in the next year or so.

Copyright 2021 KOLD News 13. All rights reserved.

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