Tucson is reporting several factors that appear to be the result of increased buyer confidence. Rising home sales, an increase in the average sale price of homes, higher closing rates and “snowbirds” checking out the area for prospective migration this winter all indicate that Tucson may be experiencing the beginnings of recovery.

January ushered in meager home sales and lower absorption rates. February showed a lower active inventory, but less closings and a lowered median sale price compared to the same time last year. March and April boasted about the same number of closings from months in the previous year, and new home inventory showed shrinkage, which could indicate recovery is on the horizon.

Many real estate analysts attribute an increase in Tucson home sales to the $8,000 first time home buyer tax credit, lower home prices and low mortgage rates; although, 30-year fixed rates recently rose above 5%. There are also fewer listings due to foreclosure or short sales and a decline in refinancing.

Regardless of the reason, it appears Tucson is cranking out some encouraging statistics. We’ll have to keep an eye on this market. The current rebound could mean long-term recovery.