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Real Estate Market Update - Lincoln County, Ruidoso, Alto
Like many real estate markets across the nation, Lincoln County’s numbers are down 25 per cent or more, depending on which area you look at. Total dollar volume and number of units sold, for the entire county, has declined by 24 per cent, comparing 2008 vs. 2007. Ruidoso’s total dollar volume on sale of residential units dropped about 19 per cent, while number of units sold declined about 22 per cent. Alto Lakes Golf & CC dollar volume declined about 42 percent, while the area surrounding Alto ( N. Ruidoso to Bonito River ) was down about 6 per cent.
Buyers Market: The opportunities for buyers continue to improve as motivated sellers are reducing their prices. There is a constant negative media drumbeat of a troubled economy, government stimulus bills pending, and job losses nationwide. The news about the housing market does not inspire confidence, and buyers are in waiting, trying to guess when and where the market bottoms.
Housing Affordability at Record High: The National Association of Realtors carefully track housing and economic data and issue a periodic report on the housing market. A recent article titled: Pending Home Sales Down but Housing Affordability at Record suggest that the current ... more

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