New Mexico housing market on pace for record year

This June 4, 2015 photo shows a sign in front of a home for sale in Roswell, Ga. The U.S. housing market has sizzled this summer and raised hopes that housing will finally help accelerate a U.S. economic recovery now in its seventh year. Yet sales have improved so fast that many see signs that housing will likely lose momentum, for reasons ranging from too few homes for sale to the preference of some would-be buyers to keep renting to a still-slow pace of house construction. (AP Photo/John Bazemore)

ALBUQUERQUE, N.M. (AP) – Real estate agents say 2017 could be a record-setting year for New Mexico’s housing market.

The Realtors Association of New Mexico reports that 1,760 properties were sold in March, representing an increase of more than 6 percent over the same period last year.

The figures also show that 19 counties across the state reported an increase in sales for the first quarter over the first three months of 2016.

Association officials say inventory is still tight in many areas and homes that are priced right are going quickly and sometimes getting multiple offers. Median prices are also on the rise, up 4 percent statewide from last year at this time.

The group says property sales contributed over $1 billion to New Mexico’s economy during the first quarter.

KRQE.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s