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What are Average Housing Prices in Albuquerque New Mexico?
Albuquerque is a city with a ton to offer its residents. Considering Albuquerque’s rich, cultural history, its status with Forbes as the “Center of New Mexico’s Tech Corridor” and its ever-growing business sector, it’s clear why so many wish to call Albuquerque home. But, what are housing prices in Albuquerque, NM?
6 New Mexico Housing Market Predictions From The Experts
In 2017 Americans learned to expect the unexpected, whether it be politics, weather or housing. Driven by record low inventory, little about the national and New Mexico housing market went as forecast last year. “We thought there would be some things to take the pressure off,” reflects Skylar Olsen, senior economist at home search site Zillow. Interest rates would rise. Construction would pick up. Price growth would moderate. “That did not happen at any impactful level.”
According to the National Association of Realtors, this year the number of existing-home sales was expected to increase about 3.5%, to 5.64 million. The NAR predicts that existing-home purchases will rise another 2.8% in 2018, to 5.8 million.(1)
With homes continuing to fly off the market, buyers might have to compromise slightly on their list of “must-haves,” like favorite neighborhood, commute time, price, and size of home. If you’re planning to buy a new home in 2018, give yourself a competitive advantage with the following tips: [Read more…]