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New Mexico Year to Date Sales Continue to Improve!

Year to Date Sales Continue to Improve

 

2013 sales are on track to be higher than those numbers seen the last six years (RANM started tracking state-wide sales in 2007).  2013 Year to Date Numbers (January through November) reported to the REALTORS Association of New Mexico show 15,311 sales.  As a comparison, January through November numbers for 2007 through 2012:

2007

9,671

 

2008

13,714

 

2009

12,804

 

2010

12,409

 

2011

12,225

 

2012

13,958

 

2013 Year to Date median price of $172,500 is over 3% higher than the 2012 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 – 1,127 reported sales for November 2013 compared to 1,478 reported sales in October 2013.  However, November 2013’s reported median price of $175,000 is higher than October 2013’s median ($171,450) and the median reported in November 2011 ($160,000) and November 2012 ($169,894).

 

“Our latest reports indicate New Mexico’s housing market is continuing to improve.  The rise in median prices is partly the result of lower inventory and partly due to fewer distressed property sales,” according to Cathy Colvin, 2013 RANM President.  “Year to date sales numbers and median price are both encouraging and predict the 2013 housing market will show an increase in activity and prices over 2012.  National prognosticators predict the 2014 housing market will show a slower upward pace than this year.  As New Mexico nearly always lags behind national market trends, and does not experience the extreme highs and lows of many areas, while we hope for continued improvement, it is really a wait and see game for the housing market of 2014.”

 

M. Steven Anaya, RANM CEO, said to keep in mind that all real estate is local with sales and prices that can vary throughout the state and within the same community.  “Roughly half of the reporting counties in New Mexico showed an increase in sales for November 2013 over last year, and half showed a decrease.  The same is true for median prices.  Economic factors vary throughout the state, which also figure in to the housing market, and RANM’s individual county numbers reflect these conditions.  Overall, we are pleased with home sales in the state and the fact that 2013 will mark the best numbers we’ve seen in six 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.

 

 

Diane Moehlenbrink, CAE, RCE

Communications, Marketing and Events Director

REALTORS® Association of New Mexico

New Mexico 2013 Home Sales and Median Prices Out-Perform 2012 Numbers

2013 Home Sales and Median Prices Out-Perform 2012 Numbers

 

Home sales in New Mexico during September 2013 continue to show a steady increase over numbers reported in 2012.  Median prices are also going up.

 

In September, 1,476 sales were reported to the REALTORS Association of New Mexico (RANM).  That total represents a 7.9% increase over numbers reported last September.

 

September 2013’s median of $177,250 is 4.3% higher than the $170,000 median reported in September 2012.

 

Year-to-date (January through September 2013) numbers show similar increases over 2012.  12,646 sales have been reported for 2013.  At the end of September 2012, 11,335 sales had been reported and at the end of September 2011, 9,979 sales were reported.

 

The $172,500 2013 year-to-date median is nearly 4% higher than the 2012 year to date median.

 

According to 2013 RANM President Cathy Colvin, “As usual, New Mexico does not experience the drastic ups and downs seen in many markets.  But our increases in both number of sales and median prices have been sustained for several months now and we are optimistic they will continue their upward progress.  As always, the state’s economy and job numbers play a big part in New Mexico’s real estate market trends.”

 

The NATIONAL ASSOCIATION OF REALTORS (NAR) is providing members with continual updates on the government shut down and its effect on the real estate market.  M. Steven Anaya, RANM CEO, shares NAR’s latest news, “If the government defaults on its debts, the likely consequence for home buyers that will soon emerge is skyrocketing borrowing costs.  The housing market is highly sensitive to changes in interest rates.  Nationally NAR estimates a 1% increase in mortgage rates would result in a negative impact of 350,000 to 450,000 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.

 

 

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

 

New Mexico July Market Continues Climb!

July Market Continues Climb

 

July 2013 sales numbers and median prices reported to the REALTORS Association of New Mexico (RANM) continue to out-pace totals from the last two years.

 

Cathy Colvin, 2013 RANM President, notes, “The July 2013 state-wide median of $180,502 is the highest July median since the 2010 figure of $181,000.   The 2013 year to date median ($170,000) is also the highest year to date median reported since 2010, when the median was $173,800.”  Median price indicates half the properties sold for more and half for less.

 

The number of sales in New Mexico also continues to increase.  1,638 sales were reported in July 2013, up 15% over June 2013 sales and nearly 18% over July 2011 numbers.  2013 year to date sales numbers are 11.5% higher than those reported for the same time period in 2012.  9,451 sales have been reported January through July 2013; 8,473 sales were reported for same time period in 2012.

 

“According to both national and New Mexico sources, homebuilder confidence is rising.  Mortgage rates remain low (Freddie Mac reported this week the average rate on a 30-year loan was 4.4%.).  And consumer confidence continues to grow.  All these trends bode well for a continued growth for real estate markets,” says M. Steven Anaya, RANM CEO.

 

12 New Mexico counties showed an increase in sales this July compared to figures from July 2012.

14 counties showed an increase in median price from July 2012 to July 2013.  Local conditions continue to be a major factor effecting real estate activity – a robust economy and high employment translate to a robust real estate market.

 

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.

 

 

2013 Year to date and 2nd quarter Sales and Prices Top 2012 numbers

2013 Year to Date and 2^nd Quarter Sales and Prices Top 2012 Numbers

 

2013 Second Quarter sales and median prices reported to the REALTORS Association of New Mexico (RANM) show an increase over 2011 and 2012 second quarter reports.

 

4,428 sales were reported in the second quarter of 2013.  This tops the 2012 number of 4,063 by 9% and the 2011 number of 3,608 by nearly 23%.

 

7,764 sales were reported year-to-date (January through June) 2013.  7,082 sales were reported January through June 2012 and 6,395 sales were reported January through June 2011.

 

The 2013 Second Quarter median price as reported at $17o,000 and reflects a small, but steady increase over second quarter median price in 2011 and 2012.  The year-to-date 2013 median of $169,000 reflects a similar increase over the past two years.  Median price indicates half the properties sold for more and half for less.

 

“The number of sales for the month of June 2013 is less than 1% less than those reported in June 2012,” according to RANM President Cathy Colvin.  “Low inventories and an increase in mortgage rates contribute to this slight decrease.  The good news for sellers is the June median price of $179,000 is 5% higher than the May 2013 median and over 4% higher than the June 2012 median.”

 

M. Steven Anaya, RANM CEO adds “Local economic conditions also play a role in state-wide numbers.  Our reports show a nearly even break-out of counties showing increases and counties showing decreases in both the number of sales and in median prices.”

 

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

New Mexico Housing Market on Slow Road to Recovery

New Mexico Housing Market On Slow Road to Recovery

 

Housing trends reported to the REALTORS Association of New Mexico (RANM) for April show a continuing increase in the number of sales, while monthly median prices are slightly lower than prices recorded in April of 2011 and 2012.

 

New Mexico reflects national growth in number of sales.  1,387 April 2013 New Mexico sales were reported to RANM.  In April of 2012, 1,273 sales were reported and in April of 2011, there were 1,110 reported sales.  2013 year to date sales are nearly 10% more than 2012 and over 20% more than 2011 numbers.  Homes are selling at a faster pace than previous years which is good news for sellers.

 

Citing research from the NATIONAL ASSOCIATION OF REALTORS, RANM President Cathy Colvin reports, “Existing-home sales continue to improve, although inventory constraints are preventing stronger growth.  After four years of relatively flat activity from 2008 through 2011, nationally, existing home sales rose 9.4 percent to almost 4.3 million in 2012 and are forecast to increase to nearly 5.0 million this year.” 

 

New Mexico median prices (median price indicates half the properties sold for more and half for less) for the month of April 2013 show a -0.3% decrease from April 2012 ($164,000 to $164,490) and a

-0.6% decrease from April 2011 when the reported median was $165,000.

 

M. Steven Anaya, RANM CEO, says “Nationally, median home prices are rising.  While April 2013 median prices dropped slightly, year to date New Mexico median prices reflect this rising trend.  Year to date April 2012 New Mexico median was $160,000; January through April 2013 median is reported at $165,000.”

 

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 5/21/13.  Visit www.nmrealtor.com (housing trends) for county and board statistics.

Housing Market Continues to Improve

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

diane@nmrealtor.com

www.nmrealtor.com

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