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