Hot housing market

Asking prices for homes are on the rise in the middle of a pandemic.

COMPARED TO THE SAME TIME LASTYEAR.

NINE ON YOUR SIDE'SBRIAN BRENNAN SPOKE TO A LOCALREAL ESTATE AGENT ABOUT THEPRICES -- AND WHETHER THEY'LLSTAY STABLE.BRIAN BRENNAN: 46-56 MANYPEOPLE WORKING FROM HOME FORTHE FIRST TIME MIGHT BETHINKING THEY NEED SOME MORESPACE AND THAT IS PART OF THEREASON WHY A TUCSON REALESTATE AGENT SAYS DEMAND INOUR MARKET IS ON THE RISE.PRICES ARE UP AND LISTINGS AREGOING FAST.

KRISTI PENROD REALESTATE AGENT, REDFIN 5:03-5:11ITS HOT!

I ALWAYS TELL MYSELLERS ITS A GREAT TIME TOSELL AND WHEN WE GO TO BUY ITSGOING TO BE A BIT ROCKY REALESTATE AGENT KRISTI PENRODSAYS THE PANDEMIC HAS BROUGHTDOWN SUPPLY AND BOOSTEDDEMAND.

ACCORDING TO A REDFINREPORT, PRICES ARE UP IN THESUMMER WHEN THINGS NORMALLYSTART TO LAG.

THERE ARE FEWERHOUSES ON THE MARKET, RECORDLOW INTEREST RATES, ANDPANDEMIC PRECAUTIONS ARECREATING BOTTLENECKS.

KRISTIPENROD REAL ESTATE AGENT,REDFIN 6:06-09 EVERYTRANSACTION RIGHT NOW IS ALITTLE HARDER TOO.

PENROD SAYSANOTHER TREND IS PICKING UPSTEAM... PEOPLE WORKING FROMHOME MOVING OUT OF EXPENSIVECITIES.

KRISTI PENROD REALESTATE AGENT, REDFIN 2:54-3:05PEOPLE THAT CAN CASH OUT OFREALLY EXPENSIVE MARKETS WITHA GREAT INCOME, AND THEY DON'TNECESSARILY HAVE TO BE IN SANFRANCISCO OR SEATTLE OR DENVERHAVE DECIDED TO COME INTO OURMARKET FOR LOCALS BUYERS THATMEANS COMPETING WITHOUT-OF-TOWNERS PAYING IN CASH.KRISTI PENROD REAL ESTATEAGENT, REDFIN 3:38-3:48 IMGETTING 4,5,6 CALLS A WEEKFROM OUT OF TOWN BUYERS, WEHAVE A LOT OF BUYERS DOINGFACETIME OR VIRTUAL TOURS ANDNOT EVEN SEEING PROPERTIESUNTIL THEY CLOSE.

THERE WILLALWAYS BE UPS AND DOWNS INREAL ESTATE.

PENROD SAYS SOFAR THE PRICING SURGE HAS BEENRELATIVELY STABLE.

KRISTIPENROD REAL ESTATE AGENT,REDFIN 9:13-26 I THINK THATTUCSON WILL CONTINUE TO BEDESIRABLE.

IT WILL CONTINUE TOBE A PLACE THAT IS AFFORDABLEEVEN THOUGH OUR PRICES AREGOING UP OUR MEDIAN HOME PRICEIS STILL WELL UNDER 300THOUSAND.

BRIAN BRENNAN KGUNNINE ON YOUR SIDE.VICE PRESIDENT MIKE PENCE --