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Tucson Housing Sales Down, Values and Permits Up

TUCSON-While sales of new and existing homes were down during February, the value of the average home here rose more than $10,000 in the past year, and building permit numbers are on the rise too.

By D. J. Burrough | Updated on April 02, 2001

TUCSON-For the Tucson home market there is good news and bad news. During February, there were fewer new and resale home closings than in any February in the past two years, but the number of building permits issued spiked, and the average sale price rose by $10,000, according to the Tucson Housing Market Letter, which tracks the residential development market.

Sales of new homes during the month totaled just 392, while in February 2000 482 new homes were sold and during the same month of 1999 new home sales totaled 428. Resales in February totalled 947, compared to more than 1,000 during the same time period in the past two years.

The lower numbers don’t worry housing analyst John Strobeck, who publishes the market letter. “One or two months is not a trend,” he says.

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