Tucson-Fewer new homes, higher prices

Talking about the Tucson housing market at his annual home-building forecast held Friday at the Westin La Paloma Resort & Spa, Tucson housing analyst John Strobeck said " Fewer new homes will be built and sold this year although home prices will continue to climb..." and he predicted that the median price of a new home, which reached $258,000 in 2006, will climb to $348,000 by 2010. As reported in the Arizona Daily Star, read the full article Analyst: Fewer new homes in '07   In the online comments to this story, I think one reader hit the nail on the head. "Things slowed down recenty as some investors pulled out last year, but growth will really speed up over the next 20 years as the boomers retire. Most won't want to stay in the midwest, northeast, and northwest as the winters are too darn cold there when you are old. It is going to all about AZ growth from now on as California is way too high priced for retirement, Florida and Gulf Coast huricanes don't make for relaxing retirement, Nevada is pretty bleak if you don't enjoy Vegas, and New Mexico is too far from anywhere.