Northwest Albuquerque and Northwest Heights Real Estate Market Trends – New Mexico

News for Northwest Albuquerque and Northwest Heights, NM - December 23rd, 2010 7:55pm
Inventory has decreased for single family homes, and while interest rates have ticked up recently they are still low and buyers are taking advantage of the rates available. Short Sales and Foreclosures make up aprox. 15% of the "Active" inventory. Sellers who are not upside down will be able to "buy up" in the current market and seem to be making the move wisely. Buyers are still in control of the market but with less power then they were a few months ago. Looking ahead the trend is for decent financing terms for qualified buyers, prices have seemed to stabilize while inventory is down from recent months. We expect sellers to enter the market into the first quarter of 2011 making it still a strong buyers market.

News for Northwest Albuquerque and Northwest Heights, NM - Saturday March 13th, 2010 11:02am
February saw 380 single-family detached home sales, up 10.79 percent from February 2009 and up 8.88 percent from the previous month.

• Pending sales for single-family detached homes are up 46.98 percent from the previous year and increased 5.27 percent from the previous month.

• Market activity in the Rio Rancho areas shows significant improvements when compared to February 2009, with a 37.35 percent increase in detached home sales and a 104.11 percent increase in the number of Pending sales.