'Sick' report on housing market puts Tucson realtors on the defensive - Cronkite News

One out of every 54 housing units received a foreclosure filing between January and June, RealtyTrac reported. Home prices have dipped 34 percent over the last five years, according to the Federal Housing Finance Agency. Inman News placed Tucson fourth among America's 10 best places for Real Estate investment. Among other factors, the report considered low prices and falling prices, an improving unemployment rate and high projected return on investment over the next decade. One study sees the glass as half full, while the other sees it as half empty, he said. He recently listed a house for $147,000 and sold it within three days for more than $170,000. Hollman says the report relies on vacancy rates, which can be misleading. The area has a high vacancy rate because the weather draws many seasonal residents. However, Tucson Realtors say they're going through inventory at a rapid rate. Realtors