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24/7 Wall St.: The 10 Markets with the Most Empty Homes

2. Tucson, Ariz.

Vacancy rate: 6.9%
Median price per square foot: $92
Unemployment: 7.0%

Similar to markets in Nevada and Florida, the Tucson, Ariz., area was hit very hard by the housing downturn. Housing prices fell 37.3% between its peak and trough. While asking prices grew 8.1% year-over-year, the growth in listing price is not nearly as strong as in neighboring Phoenix, which grew by almost 25% in the same period. Still, the average price per square foot in Tucson is up a healthy 56.6% on a year over year basis, suggesting that the market is bouncing back

(iStock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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