Category Archives: Stats


2014 RANM OFFICERS
Sandylee Pasquale, President Baro Shalizi, ABR,CIPS, e-Pro, President Elect
Patricia Fell, CRS, GRI, e-Pro, Treasurer Cathy Colvin, CRS, Immediate Past President
M. Steven Anaya, Chief Executive Officer
The Voice for Real Estate in New Mexico

Contact: M. Steven Anaya, 800-224-2282
2014 October Sales Outpace September 2014 and October 2012 and 2013 Numbers
1,542 Sales were reported to the REALTORS Association of New Mexico (RANM) for the month of October 2014. This number is 3.4% higher than sales numbers reported in September 2014 (1,491); 3.4% higher than sales reported in October 2013 (1,492) and 4.8% higher than the number of sales reported in October 2012 (1,424).
“October activity plus continued low interest rates should mean the housing market in New Mexico will end 2014 on a positive note,” says Sandylee Pasquale, RANM 2014 President. “Year to date sales numbers are slightly ahead of 2013 January through October numbers, but the big jump from September 2014 bodes well for the trends. First-time home buyers are still missing from the real estate marketplace. Relaxation in overly restrictive lending standards will bring the first-time home buyer back.” NAR and RANM leadership will continue to work with leaders in Washington to continue to open doors for more buyers including First Time home buyers.
The October median price for a home in New Mexico was $178,000. This is a less than one percent decline from the September 2014 median, but is 4.7% higher than the October 2013 median of $170,000. Median price means half the homes sold for more; half for less.
Steven Anaya, RANM CEO, explains, “Even with the small decrease in median prices in October, the increase in number of sales over September 2014 results in a volume of $350,932,396 generated from real estate activity. This is a 4.6% increase over September’s volume.”
“Distressed properties and foreclosures are still effecting New Mexico’s real estate market,” adds Pasquale. “A recent report from the NATIONAL ASSOCIATION OF REALTORS showed distressed properties sold at an average 14% discount.”
The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.”
Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats. Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 11/18/14. Visit http://www.nmrealtor.com (housing trends) for county and board statistics.
The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,500 members involved in all aspects of the residential and commercial real estate market.
2201 Brothers Road Santa Fe, NM 87505 505-982-2442 505-983-8809 Fax http://www.nmrealtor.com

A look at real estate sales in the past 8 months in Luna County NM

The numbers are a little different.  Part of that is good and part is not so good.  This is based on all residential sales in the county…in town, in the county, site built and manufactured.  It’s just a snapshot.  The prices ranged from $9,000 to $308,000.  It’s just something to take a look at.

Jan 1 thru Aug 31    Sold     $ Volume          Average Price     Median Price      DOM

2013                          87        $8,496,359        $97,659              $95,000            246

2014                         101       $9,091,725        $90,017              $78,000            200

What does this tell us?  I have no idea.  The good news is that more folks are buying house this year that they were this time last year.  If the increase is sales keeps up, the rest will work itself out.

Housing trends from the Nations Assn. of REALTORS

Existing-Home Sales Remain Soft in March

Media Contact: Walter Molony / 202-383-1177 / Email

WASHINGTON (April 22, 2014) – Existing-home sales were essentially flat in March, while the growth in home prices moderated, according to the National Association of Realtors®. Sales gains in the Northeast and Midwest were offset by declines in the West and South.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, slipped 0.2 percent to a seasonally adjusted annual rate of 4.59 million in March from 4.60 million in February, and are 7.5 percent below the 4.96 million-unit pace in March 2013. Last month’s sales volume remained the slowest since July 2012, when it was 4.59 million.

Lawrence Yun, NAR chief economist, said that current sales activity is underperforming by historical standards. “There really should be stronger levels of home sales given our population growth,” he said. “In contrast, price growth is rising faster than historical norms because of inventory shortages.”

Yun expects some improvement in the months ahead. “With ongoing job creation and some weather delayed shopping activity, home sales should pick up, especially if inventory continues to improve and mortgage interest rates rise only modestly.”

The median existing-home price2 for all housing types in March was $198,500, up 7.9 percent from March 2013. Distressed homes3 – foreclosures and short sales – accounted for 14 percent of March sales, down from 16 percent in February and 21 percent in March 2013. “With rising home equity, we expect distressed homes to decline to a single-digit market share later this year,” Yun said.

Ten percent of March sales were foreclosures, and 4 percent were short sales. Foreclosures sold for an average discount of 18 percent below market value in March, while short sales were discounted 12 percent.

Total housing inventory4 at the end of March rose 4.7 percent to 1.99 million existing homes available for sale, which represents a 5.2-month supply at the current sales pace, up from 5.0 months in February. Unsold inventory is 3.1 percent above a year ago, when there was a 4.7-month supply.

The median time on market for all homes was 55 days in March, down from 62 days in February, and also 62 days on market in March 2013. Short sales were on the market for a median of 112 days in March, while foreclosures typically sold in 55 days and non-distressed homes took 53 days. Thirty-seven percent of homes sold in March were on the market for less than a month.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.34 percent in March from 4.30 percent in February; the rate was 3.57 percent in March 2013.

First-time buyers accounted for 30 percent of purchases in March, up from 28 percent in February; they were 30 percent in March 2013.

NAR President Steve Brown, co-owner of Irongate, Inc., Realtors® in Dayton, Ohio, said first-time buyers have been stuck in a rut. “There are indications that the stringent mortgage underwriting standards are beginning to ease a bit, particularly regarding credit score requirements, but they remain a headwind for entry-level and single-income home buyers,” he said.

“We also have tight inventory in the lower price ranges where many starter homes are found, but rising new-home construction means some owners will be trading up and more existing homes will be added to the inventory. Hopefully, this will create more opportunities for first-time buyers,” Brown said.

All-cash sales comprised 33 percent of transactions in March, compared with 35 percent in February and 30 percent in March 2013. Individual investors, who account for many cash sales, purchased 17 percent of homes in March, down from 21 percent in February and 19 percent in March 2013. Seventy-one percent of investors paid cash in March.

Single-family home sales were unchanged at a seasonally adjusted annual rate of 4.04 million in March, the same as February, but are 7.3 percent below the 4.36 million pace a year ago. The median existing single-family home price was $198,200 in March, which is 7.4 percent above March 2013.

Existing condominium and co-op sales declined 1.8 percent to an annual rate of 550,000 units in March from 560,000 in February, and are 8.3 percent below the 600,000 level in March 2013. The median existing condo price was $200,800 in March, up 11.6 percent from a year ago.

Regionally, existing-home sales in the Northeast rose 9.1 percent to an annual rate of 600,000 in March, but are 4.8 percent below March 2013. The median price in the Northeast was $244,700, up 3.2 percent from a year ago.

Existing-home sales in the Midwest rose 4.0 percent in March to a pace of 1.04 million, but are 10.3 percent below a year ago. The median price in the Midwest was $149,600, which is 5.9 percent above March 2013.

In the South, existing-home sales declined 3.0 percent to an annual level of 1.92 million in March, and also are 3.0 percent below March 2013. The median price in the South was $173,000, up 6.7 percent from a year ago.

Existing-home sales in the West fell 3.7 percent to a pace of 1.03 million in March, and are 13.4 percent below a year ago. The median price in the West was $289,300, which is 12.6 percent higher than March 2013.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

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NOTE:  For local information, please contact the local association of Realtors® for data from local multiple listing services. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.

1Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR rebenchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.

Existing-home sales, based on closings, differ from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90 percent of total home sales, are based on a much larger data sample – about 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

2The median price is where half sold for more and half sold for less; medians are more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper-end transactions. The only valid comparisons for median prices are with the same period a year earlier due to a seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if additional data is received.

The national median condo/co-op price often is higher than the median single-family home price because condos are concentrated in higher-cost housing markets. However, in a given area, single-family homes typically sell for more than condos as seen in NAR’s quarterly metro area price reports.

3Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR’s Realtors® Confidence Index, posted at Realtor.org.

4Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90 percent of transactions and condos were measured only on a quarterly basis).

Realtor.com®, NAR’s listing site, posts metro area median listing price and inventory data at: www.realtor.com/data-portal/Real-Estate-Statistics.aspx.

The Pending Home Sales Index for March will be released April 28, and existing-home sales for April is scheduled for May 22. First quarter metropolitan area home prices will be published May 12; all release times are 10:00 a.m. EDT.

Houseing Trends from the REALTORS Assn. of New Mexico

March New Mexico Housing Market vs. National Trends
The latest reports from the NATIONAL ASSOCIATION OF REALTORS (NAR) indicate nationally sales numbers are decreasing slightly and prices are rising. New Mexico seems to be an exception to this trend.
March 2014 found more property sales reported to the REALTORS Association of New Mexico (RANM) than March 2013 but the statewide median price for 2014 was slightly lower than the median reported for March 2013. Median price indicates half the properties sold for more and half for less
“Even though the statewide median price for 2014 was 1.5% lower than the median reported in 2013, the nearly 9% increase in the number of reported sales resulted in a 25% increase in total volume of dollars generated comparing this March to last year,” reports Sandylee Pasquale, 2014 RANM President.
March 2013 Sales: 1294
March 2014 Sales: 1409
March 2013 Median: $171,500
March 2014 Median: $169,000
March 2013 Volume: $270,044,149
March 2014 Volume: $338,048,990
“RealtyTrac’s latest report shows homeowners are continuing to recover equity lost in their homes. This is helping the economy through increased consumer spending,” says RANM CEO M. Steven Anaya. “At the same time, home prices have been rising faster than incomes, while mortgage interest rates are above the record lows of a year ago. This is beginning to hamper housing affordability.”
The January and February 2014 statewide median prices were higher than those reported in 2013, so even with the slight drop in the March median this year, 2014’s year-to-date and first quarter median price of $169,900 is higher than the 2013 first quarter price of $165,477 or the 2012 median of $159,900.
Year to date (1st quarter) number of sales also continues upward.
First Quarter 2011: 2785 sales
First Quarter 2012: 3019 sales
First Quarter 2013: 3350 sales
First Quarter 2014: 3516 sales
The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.”
Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats. Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 4/17/14. Visit http://www.nmrealtor.com (housing trends) for county and board statistics.
The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,500 members involved in all aspects of the residential and commercial real estate market.
2201 Brothers Road Santa Fe, NM 87505 505-982-2442 505-983-8809 Fax http://www.nmrealtor.com

Ok…this looks good.

I just ran MLS sold stats from the first quarter of 2013 compared to the first quarter of 2012. And I think you’ll like it too!

Residential Sales Jan 1 – Mar 31. 2013. 28 sales closed for a total value of $3,178,184 with and average price of $113,507 and a median price of $112,500. Average days on the market – 205.

Residential sales from Jan 1 – Mar 31, 2012.  22 sales closed for a total value of $1,890,600 with an average price of $85,936 and a median price of $79,000. 183 average days on the market.

There is certainly room for improvement, but at we’re doing better than we were! Thank God! Let’s just hope it keeps improving!

There are still plenty of houses listed so give us a call! We’ll be happy to help you find the perfect house for you!

Sold stats Deming, NM Jan 2013

The sold stats from the local MLS seem to be in line with the state…we sold more residential properties in January, 2013 than in January, 2012 but for a little less money.  In January, 2013 there were 11 residential properties sold for a Total Price of $1,224,884 with an Average Price of $111,353, a Median Price of $110,000 and 219 Average Days On The Market.

In 2012 there were 6 residential properties sold for a Total Price of $801,000 with an Average Price of $133,500, a Median Price of $136,750 and 155 Average Days On The Market.

There are currently 229 residential properties listed for sale in the Deming/Luna County area.  The inventory is out there!  It’s time to buy!  Get qualified at your lender of choice and come see us!!!

January Sales from the REALTORS Assn. of New Mexico

For Immediate Release

Contact: M. Steven Anaya, 800-224-2282

January Home Sales Off and Running

970 home sales were reported to the REALTORS® Association of New Mexico (RANM) for January 2013. This is over 19% more sales than January 2012 and nearly 24% more than the number of sales reported in January 2011. Only four counties reported a drop in the number of sales for January 2013 compared to January 2012.

“What a great way to start 2013,” said Cathy Colvin, RANM President. “Inventories are still low in many markets, but the pent-up demand for homes is creating activity in markets around the state.”

According to RANM CEO M. Steven Anaya, “Prices are still showing decreases from previous years. The good news, however, is that median price decreases are getting smaller with each month. While distressed sales are still high by historical standards, they have fallen from their peaks in most markets, helping to alleviate the downward pressure on home prices in many areas.”

January’s reported median for New Mexico properties was $159,500. While this is just over 4% lower than the January 2011 median of $168,500, it is only 1.1% lower than the January 2012 median of $161,240. Median price indicates half the properties sold for more and half for less.

Tight lending standards, uncertainty in the market, and pending federal legislation still play a role in preventing an unqualified housing recovery. Americans however, still want to call themselves homeowners. A recent NATIONAL ASSOCIATION OF REALTORS® survey showed nearly 60 percent of current renters plan to purchase a home in the next two years.

The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.

Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats.

Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 2/18/13. Visit http://www.nmrealtor.com (housing trends) for county and board statistics.

The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,800 members involved in all aspects of the residential and commercial real estate market.

2201 Brothers Road Santa Fe, NM 87505 505-982-2442 800-224-2282 fax 505-983-8809 nmrealtor.com

November stats from the REALTORS Assn. of New Mexico

Year to Date Sales Continue to Improve

2012 sales are on track to be higher than those numbers seen the last five years (RANM started tracking state-wide sales in 2007).  2012 Year to Date Numbers (January through November) reported to the REALTORS Association of New Mexico show 13,884 sales.  As a comparison, January through November numbers for 2007 through 2011:

2007

9,671

2008

13,714

2009

12,804

2010

12,409

2011

12,223

2012 Year to Date median price is identical to the 2011 Year to Date median of $167,000.  Median price indicates half the properties sold for more and half for less.

Seasonal trends are apparent as November sales numbers are down from October – 1,165 reported sales for November, 2012 compared to 1,400 reported sales in October, 2012.  However, November, 2012 numbers are nearly 10% higher than November 2011 when the number of sales was reported at 1,064.

November 2012’s reported median price of $169,000 is slightly lower than the October, 2012 median, but is over 5.5% higher than the reported November 2011 median of $160,000.

“HomeGain’s recent home values survey indicates the majority of real estate professionals expect prices to increase over the next six months,” according to Debbie Rogers, 2012 RANM President.  “Homeowners are less optimistic of short term increases, but the majority thinks home values will increase in the next two years.  Optimism is on the rise, but as all real estate is local, conditions in specific markets may vary from the national trend.”

M. Steven Anaya, RANM CEO cites the REALTORS’ Confidence Index, a survey conducted by the NATIONAL ASSOCIATION OF REALTORS to track expectations about overall market conditions, traffic, price, and issues affecting real estate.  “REALTORS reported the inventory of homes for sale remains very tight, resulting in multi-bidding in some cases.  REOs and other properties do not appear to be coming on market sufficiently to meet demand, while sellers are also waiting for prices to pick up further.  Listings for properties that are in good condition are reported as receiving multiple offers.  Investors are snapping up REOs, paying cash.”

The trends and numbers reported are only a snapshot of market activity.  If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.

Diane Moehlenbrink, CAE, RCE

Communications, Marketing and Events Director

REALTORS® Association of New Mexico

505-982-2442, ext. 164; fax 505-983-8809

diane@nmrealtor.com

www.nmrealtor.com

 

 

 

Sold Stats from the REALTOR’S ASSN OF NM

Contact:  M. Steven Anaya, 800-224-2282 

Home Sales Trends:  Same Story, October Version 

The latest home sales numbers reported to the REALTORS® Association of New Mexico (RANM) indicate the number of New Mexico sales continues to increase and median prices are leveling off – the same story reported in September.

During October 2012, 1,377 New Mexico sales were reported to RANM.  This number continues the upward trend from recent reports.

October 2012:  1,377 sales reported

September 2012:  1,356 sales reported

October 2011:  1,181 sales reported

October 2010:  998 sales reported

The state wide median price (median price indicates half of the properties sold for more and half for less) continues to hold steady.

October 2012 median:  $170,000

September 2012 median:  $170,000

October 2011 median:  $170,000

October 2012 median:  $174,950

Year to date (January through October 2012) sales numbers show a similar trend with a 13.6 % increase over the same period in 2011.

January through October 2012:  12,681 sales reported

January through October 2011:  11,159 sales reported

January through October 2010:  11,419 sales reported

Year to date median prices for 2012 are not as high as those reported in 2011 or 2010.  Distressed properties are still causing a disproportionate effect on sales prices in New Mexico.

January through October 2012 median:  $167,000

January through October 2011 median:  $168,000

January through October 2010 median:  $174,000

“Nationwide reports from the NATIONAL ASSOCIATION OF REALTORS (NAR) indicate home prices are rising in most areas across the country,” said RANM 2012 President Debbie Rogers.  “Traditionally New Mexico never sees the dramatic highs or lows associated with many areas, and trends here lag national trends by about six months, so our state, while beginning to show signs of stabilization in median prices, has not yet reported the increases many states are already seeing.”

M Steven Anaya, RANM CEO, says there is good news for buyers.  “The latest Housing Affordability Index, a quarterly report that measures the ability of a family earning the median income to purchase a median-priced home, suggests  that the national median priced home was actually slightly more affordable for the median income family in July 2012 than it was in July 2011.  And even as median prices rise, affordability is also based on mortgage rates, which continue to be at record lows for qualified buyers.”

Diane Moehlenbrink, CAE, RCE

Communications, Marketing and Events Director

REALTORS® Association of New Mexico

505-982-2442, ext. 164; fax 505-983-8809

diane@nmrealtor.com

www.nmrealtor.com

 

Sales stats from Deming and Luna County

During the first three quarters of the 2012 we REALTORS in Deming have sold 79 residential properties for a total value of $7,347,634.  The average price is $93,008, the median price is $79,300 and the average days on the market is 193.

During the first three quarters of 2011 we sold112 residential properties for a total value of $9,476,229.  The average price was $84,609, the median price was $75,000 and the average days on the market was 192.