Albuquerque Area Market Update - Still Going Strong

The Albuquerque Market is still looking good. We are still seeing some very good buying opportunities. Homes are also selling as long as they are priced properly. We are also starting to see areas stabilize and even a slight turn around. As we start to see inventory decrease prices should start to come around again. What we will really need to watch is the next round of short sales and many loans will be readjusting in the next six months. Here are a quick few points and a pretty neat video summary. Monthly Highlights • Single-family home sales in the Greater Albuquerque market areas are up 10.59 % from the previous month and increased 43.05 % compared to October 2008. • October 2009 is the 2nd highest sales month for this year and the 3rd highest sales month since September 2007. • Pending sales for single-family homes in the Greater Albuquerque market areas rose 56.52 % when compared to October 2008. This is also the 4th time this year pending sales have been 900 or higher.