The University of Arizona Eller College of Management held its excellent Economic Outlook Luncheon last Friday, Dec. 12.
Two accomplished economists, Anthony Chan, Chief Economist at Chase, and George Hammond, Director of the Economic and Business Research Center at Eller, spoke about their projections for 2015 and beyond.
We’re pleased to report good news for real estate:
- The housing market is continuing to recover; housing values were up $2 trillion nationally last year.
- The housing market is expected to get a surge of activity early in 2015 because of anticipation that interest rates will rise by mid-year.
- Population growth in Tucson is expected to bolster home sales and construction activity by 2016-2018.
- Tucson’s economy will continue to grow gradually.