Housing Market Continues To
Improve
2013 First Quarter
sales and median prices reported to the REALTORS Association of New Mexico
(RANM) show an increase over 2011 and 2012 first quarter reports.
3,306 sales were
reported in the first quarter of 2013. This tops the 2012 number of 3,018. 19
reporting counties showed an increase in sales numbers this year over last.
1,272 New Mexico sales were reported in March 2013, a 3.7% increase over the
number of March 2012 sales.
First quarter 2013
median prices also show an increase over the last two years. The median
reported for first quarter 2013 was $165,750, 0.5% higher than the 2011 first
quarter median and 3.7% higher than the 2012 first quarter median. The reported
2013 March median was $172,000. While this number is just over 8% higher than
the median for March 2012, county-by-county numbers show nearly as many counties
reporting decreases as those reporting increases. Median price indicates half
the properties sold for more and half for less.
“The housing
market is showing plenty of strength, but continues to face challenges, such as
homeowners facing negative equity, low inventory of homes for sale, and mortgage
credit remaining tight and preventing some buyers from qualifying for a loan,”
according to Cathy Colvin, RANM President.
RANM CEO, M. Steven
Anaya, cites research from the NATIONAL ASSOCIATION OF REALTORS that indicates
housing’s contribution to the economy, while muted in recent years, remains
strong. “What’s more, housing’s role will only expand as modest price growth
and stronger sales volume boost agent incomes, new construction puts more
workers back to work with expanding incomes, and stronger sales and rising
prices result in robust follow-on spending.”
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 4/17/13. 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 5,200 members
involved in all aspects of the residential and commercial real estate
market.
Diane
Moehlenbrink, CAE, RCE
Communications, Marketing and Events
Director
REALTORS® Association of New Mexico
505-982-2442, ext. 164; fax 505-983-8809
