AZ: Tucson Home Prices Up Slightly in October

Gay Tucson Real EstateHome prices in Tucson edged upward in October after five straight months of declines. The median sale price was $120,000, a 2 percent increase from the previous month, numbers from the Tucson Association Realtors Multiple Listing Service show.

September’s median sale price, at $117,500, reached a low not seen since early 2001. October’s median sale price, while better than the previous month, was still well below the same time period last year.

In October 2010 the median sale price was $140,000, according to the MLS.
Another housing report released Wednesday, the Fiserv Case-Shiller Indexes, is forecasting that by the second quarter of 2012, Tucson home prices will have seen a 3 percent drop from the second quarter of 2011. Fiserv had previously predicted that prices in Tucson would reach bottom this year.

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