Outlook good for 2012 Tucson realty marketPosted: Updated:
TUCSON, Ariz. -- Tucson Realty and Trust has given its 2012 outlook on the real estate market. And the news is good.
They say 2011 was a decent year of growth for the retail market. For the first half of the year they expect the retail market to continue to grow with the current vacancy rate at 8.5 percent, down from 8.8 percent this time last year.
"We hit our turning point. The worst is behind us. 2011 was very similar to 2010, we're kind of bumping along the bottom, now we're going to start crawling our way out. It's going to be a gradual increase in the amount of business for 2012," said Hank Amos.
The news isn't as good for the industrial market, and the land market performed the poorest in 2011.