10/17/2026
This is the reality of the Tucson real estate market right now.
I have a client in escrow on a resale home, but with mortgage rates now over 7%, the monthly payment is no longer affordable, and we have to walk away from the deal.
What makes this especially frustrating is that months ago, I was showing my client brand-new homes with builder rates as low as 3.99%.
Today, some builders are still offering rates as low as 4.99%, plus additional incentives like rate buydowns, appliances, backyard packages, and closing cost assistance.
I genuinely feel for sellers right now because it’s becoming increasingly difficult for resale homes to compete. When buyers can purchase a brand-new home for the same price, sometimes even less, and get a significantly lower interest rate, it’s a tough comparison.
Unfortunately, I think we’re going to continue seeing sellers face some serious challenges here in Tucson.