Government Shutdown Weighed on Tucson Home Sales

October’s federal government shutdown took a toll on the southern Arizona housing market, as new home sales in Tucson fell during the same month. Still, the residential real estate industry has improved substantially year-over-year. Bright Future Real Estate Research reports that 155 closings took place in October—down 15% from September but up 11% from a year ago.

Reassuringly, new building permits and homes prices showed improvement in October. New building permits totaled 197—a substantial 56% increase from September. Meanwhile, the median price for new single-family homes increased by 8% to $242,000.

Read more at Inside Tucson Business