New Mexico 2012 Home Sales Up Over 8% from 2011 Numbers
1,758 sales were reported to the REALTORS® Association of New Mexico during January and February 2012. This number is 8.1% higher than the number reported for the first two months of 2011 and 10.9% higher than the sales reported for same period in 2010.
February’s median price was $159,500. This compares to the January 2012 median of $163,250, and a February 2011 median of $165,000. The 2012 Year-to-date median is $160,000. Median price means half the houses sold for more and half for less.
“Lower prices (which are influenced by foreclosures and short sales) mean great news for buyers and the increase in number of sales reflects the decision to ‘buy now’ of many of those folks who were on the fence about buying,” said Debbie Rogers of Silver City, 2012 RANM President. “Many of our members are reporting increased activity in their market.”
“Real estate markets vary widely across the state,” according to RANM Executive Vice President Steve Anaya. “As always, there are reporting markets with increases in sale numbers and markets with decreases in sales.”
The spring market is nearly here and there is evidence that it will be stronger than recent history. Fannie Mae’s February National Housing survey found with low mortgage rates and falling home prices, 70 percent of those surveyed say now is a good time to purchase a home. Also, more Americans surveyed say now is a good time to sell, rising to 13 percent in February, which is the highest level in more than a year but still low by historic standards.
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 3/16/12. Visit 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 5,300 members involved in all aspects of the residential and commercial real estate market.