CLARIFICATION ON RIO RANCHO MARKET

One person has asked if the declining market status on my last blog refers to ABQ or just Rio Rancho. It just applies to Rio Rancho which is a separately incorporated city and is in Sandoval County not Bernalillo. ABQ is still sitting pretty as one of the few markets in the USA that has not seen any loss in values. In fact, to date this year the market area is tracking toward a 6% appreciation, if not up to 10%, overall. Because Rio Rancho has such a huge unsold inventory what with the builders' inventories and investors selling home they had purchased to rent, the price of homes has come down until that inventory has been reduced. It's a true buyers market --- lots of choices and sellers eager to sell by reducing their price.