/ Modified dec 7, 2021 4:15 p.m.

Housing prices in Tucson likely to keep climbing in 2022

Affordable housing stock is likely to continue growing smaller.

360 new housing tucson A housing subdivision under construction in Tucson off Silverbell Road. December 2020.
Robert Lindberg/AZPM Staff

The price of housing in Tucson increased 20% over the past year, and local researchers expect it to keep climbing in 2022. That means the number of affordable homes will likely keep falling.

Jennifer Pullen researches the housing market at the University of Arizona and said housing affordability in Tucson will probably get worse in the new year, especially if wages don’t keep up.

"They're not increasing anywhere near the same rate that home prices have been. So, it may start to stabilize if home prices begin to stabilize," Pullen said.

She said that new building permits that are coming online now might help keep home prices from rising as quickly as they have this year.

She also said that Tucson could look to other cities in the West for solutions, like building tiny houses for first time homebuyers. She added that Tucson still has a larger stock of affordable homes than many comparable cities in the region.

MORE: Economy, Housing, News
By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
Arizona Public Media is a service of the University of Arizona and our broadcast stations are licensed to the Arizona Board of Regents who hold the trademarks for Arizona Public Media and AZPM. We respectfully acknowledge the University of Arizona is on the land and territories of Indigenous peoples.
The University of Arizona