Good News From Albuquerque!

By
Real Estate Agent with The Realty Group, LLC

Tulips are not the only things blooming in Albuquerque . 

The Albuquerque Housing Market never experienced the severe home price depreciation that some areas of the country did.  And although we do have some foreclosures and short sales, these properties do not dominate our market.  We have homes that are priced to sell and lenders have money. It is still a "buyer's market" with an absorption rate of about 9 months but days on market are getting shorter.  Smart home buyers have positioned themselves and are poised for purchase. 

Here's a snapshot for March from the Greater Albuquerque Association of Realtors:

·Pending Sales for detached, single family homes increased 41.1% since last month, the numbers are

only 10.5% down from this time last year.

Pending Sales for Rio Rancho detached, single family homes went up 101.4% from February 2009,

and increased 17.6% from last year at this time.

Sales for both detached, single family homes and condos/townhomes went up 37.2% from last

month.

Good news for Albuquerque!  Are you noticing upturns in your marketplace?

 

 

Posted by

Alyce Martin, CNE, Associate Broker in Albuquerque "The Place To Be!"
Free Home Search @ http://www.HomeSearchABQ.com
(505)  331-8285
The Realty Group LLC

 

Comments (2)

Steve Shatsky
Dallas, TX

Hi Alyce... this is GREAT news and goes to show you how, indeed, all real estate markets are LOCAL markets.  Good job spreading the news!

Apr 21, 2009 10:23 AM
Alyce Martin
The Realty Group, LLC - Albuquerque, NM
Albuquerque - THE Place To Be!

Hello Steve - I think we've turned the corner here.  The Albuquerque Journal reported Sunday that the number of foreclosures were on the rise.  Interesting what information seems to make the news.  Is your market popping?

Apr 21, 2009 12:17 PM