{"id":633922,"date":"2026-10-18T01:34:24","date_gmt":"2026-10-18T01:34:24","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/633922\/"},"modified":"2026-10-18T01:34:24","modified_gmt":"2026-10-18T01:34:24","slug":"why-tucson-buyers-and-sellers-are-both-struggling-now-local-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/633922\/","title":{"rendered":"Why Tucson buyers and sellers are both struggling now | Local News"},"content":{"rendered":"

TUCSON, Ariz. (KVOA) – Realtors say the dream of buying a home is more out of reach for some in Tucson and across the country, with high interest rates, inflation and the economy all playing a role.<\/p>\n

The real estate market is currently facing various challenges. For some families, buying a home has become increasingly difficult and expensive, while others are unable to sell their homes due to market complications.<\/p>\n

Mr. Beto says he has spent months trying to sell his home. He has even had to lower the asking price several times.<\/p>\n

“It’s been almost a year, and I still haven’t been able to sell it,” Beto said.<\/p>\n

“We’ve lowered the price by nearly $30,000 in total, and it still won’t sell,” he said.<\/p>\n

According to the mortgage finance entity Freddie Mac, the 30-year fixed mortgage rate currently stands at 7.40 percent, compared to 6.27 percent a year ago. In other words, a monthly principal and interest payment of $2,000 could rise to approximately $2,378.<\/p>\n

When interest rates are higher, obtaining a loan to purchase a home can become more expensive and difficult. Compounding this is competition from other properties and the need to adjust prices.<\/p>\n

“I’ve seen many other people who also can’t sell their homes,” Beto said.<\/p>\n

According to the real estate portal Realtor.com<\/a>, more than 22 percent of homes listed in Tucson saw a price reduction in September. Kassandra explains that many sellers are unwilling to lower their asking price further, while some buyers fail to qualify for a loan or find that the costs exceed their budget.<\/p>\n

“When homes aren’t selling and have been on the market for a long time, you need to make adjustments to keep them active,” Kassandra said.<\/p>\n

“Due to interest rates and the state of the economy, not everyone can qualify\u2014it all depends on your income and your existing debt,” she said.<\/p>\n

Given this landscape, organizations in Arizona\u2014such as Chicanos Por La Causa\u2014offer guidance to homebuyers, including support programs for those looking to purchase their first home. Additionally, the City of Tucson and Pima County offer assistance programs.<\/p>\n","protected":false},"excerpt":{"rendered":"TUCSON, Ariz. (KVOA) – Realtors say the dream of buying a home is more out of reach for…\n","protected":false},"author":2,"featured_media":633923,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,440,111,43,139,69,38],"class_list":["post-633922","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-local","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-top-stories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/633922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=633922"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/633922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/633923"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=633922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=633922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=633922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}