Home prices continued to rise in the Tucson Metropolitan Statistical Area (MSA) and across the nation in 2018. Tucson’s median home price increased by 6.0 percent, rising from $210,300 in 2017 to $223,000 in 2018. When compared across 12 peer western MSAs, Tucson had one of the lowest median home prices. Home prices in Tucson have been steadily increasing since 2011 and are at an eleven-year high, just slightly behind prices posted prior to the Great Recession. Home prices are important because they reflect supply and demand in the housing market which in turn can echo the general economic health of an area. Further, the home is often the largest asset for most people, and the price can affect spending in other areas such as childcare, health care, and education.
