Special offer

FAQ Santa Fe Housing Market: It Is Not The Same Today

By
Real Estate Broker/Owner with eXp Realty LLC NM Broker License 16161

Today's housing market in Santa Fe, New Mexico is absolutely nothing like it was 15 years ago --- both in Santa Fe and nationwise. There’s no doubt today’s housing market is very different than the frenzied buying and selling of real esatate in the pandemiic housing boom. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle:

Today’s Housing Market Is Nothing Like 15 Years Ago | MyKCM

Looking at the those facts, it’s clear: today is very different than the housing market of 15 years ago.

There’s Opportunity in Real Estate Today

And in today’s market, with inventory rising and less competition from other buyers, there’s opportunity right now. According to David Stevens, former Assistant Secretary of Housing:

“So be advised…this may be the one and only window for the next few years to get into a buyer’s market. And remember…as the Federal Reserve data shows…home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market…right now…as a unique buying opportunity.”

Bottom Line

Today’s housing market is nothing like the real estate market 15 years ago. If you’re a buyer or seller right now, let's chat about your real estate plans and dreams. To begin, call Emily Medvec at 505-660-4541 to learn more about your real estate opportunities in Santa Fe, New Mexico. Or if you want to explore what's happening in Santa Fe real estate today online, click here. Your next move and dream may be already there.

Posted by

Our Santa Fe real estate market is a local one. Search All Santa Fe Listings Here and get results in both an easy list or map search. If you want to see a SOLD sign on your property or you want to make a lifestyle change by moving here, call me at 505-660-4541 to schedule your real estate consultation. No one has time or money to waste in this new landscape of real estate online without an experienced broker working for you. I am available to make a positive difference in your real estate experience. Remember dreams are made a reality only when you act on them. Emily Medvec

Today, I represent Sellers and Buyers in all price ranges in Santa Fe and throughout northern New Mexico. My focus is to use my experience, vision and strategies to find you opportunities and solutions. My goal is always to save you time and money whether you are selling or buying any type of Santa Fe real estate, including homes, land, town homes, condominiums, ranches and commercial property. Here are recent reviews from my past clients about my know-how and service. Until you are ready to Sell or Buy Santa Fe real estate, why not dip into my site and learn more about Santa Fe. Or let's connect now or certainly learn more about each other on Linkedin or Facebook or Twitter

Emily Medvec Copyright  All Rights Reserved 2007-2023

Comments (8)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

  

 

Great information.  Thanks for sharing, enjoy your SUPER-WILD-CARD weekend, and here's a GOOD LUCK to your favorite NFL Team!

Jan 13, 2023 11:38 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Emily - being actively involved in a local market is important while staying knowledgeable of the bigger picture adds another layer to real estate representation.  

Jan 13, 2023 02:43 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Emily,

There is no question there are great opportunities for buyers with more inventory and less competition. It is a unique time for a buyer to cash in and start building equity in a home..a long term investment.

Jan 13, 2023 04:16 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Emily... great chart to explain why today is nothing like it was during the Great Recession. People still don't seem to "get it." Of course, all the media headlines which make you think today is a repeat of the past is probably one of the reasons.

Jan 14, 2023 06:48 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It seems that a lot changes with everything in 15 years, it's like we live in a different world altogether, haha.

Jan 14, 2023 07:08 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Santa Fe home buyers and sellers are certain to value your real estate market report, Emily.

Jan 14, 2023 02:13 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

This is such good information to share, Emily. Buyers and sellers read the headlines and no doubt often don't have a good picture of what is really happening in the housing market. We need to be the voice of reason, and keep them informed so they can make good decisions if buying or selling is the plan.

Jeff

Jan 15, 2023 10:15 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Emily, nice that you show what the area/market was and what it is now.

Jan 16, 2023 06:08 AM