Gas prices dictate where buyers buy

It's not surprising that gas prices are affecting where home buyers are looking at homes. Back in the day when Tucson saw it's real estate boom (2003-2006) buyers were venturing out to the farthest corners of our city in their property searches. Homes in the outlying areas were cheaper then those closer to the city, so they were being snatched up while the gettin was good. Now many of these same outlying areas are saturated with home inventory because 1. Nobody wants to drive that far when gas is so expensive, and 2. There's just too much inventory closer to Tucson and all it's amenities.


Areas struggling with this issue include Vail and Sahaurita. During the height of Tucson's real estate market, both areas attracted buyers who either wanted to or had to spend less then what current prices in town were (drive til you qualify). Each area offered new construction homes at relatively dirt cheap prices, so buyers flocked to these sites because of their affordability. Unfortunately these communities were and still are considered isolated by some due to the lack of amenities close by.

Increased gas prices are going to continue to have some impact on where buyers are choosing to live, but areas like Rancho Sahaurita will most likley remain steady due to affordability. Tucson home prices have continued to drop over the last few months, but Sahaurita still offers new homes at prices that can't be matched closer to town.