JOB PICTURE IMPROVES

Friday's Jobs Report showed that 345,000 jobs were lost in May, far better than expectations for 520,000 jobs lost. And adding to the positive tone were revisions to the two prior months, showing 82,000 fewer jobs lost than previously reported. So all in all, about 260,000 fewer jobs lost than had been forecast.

New Mexico's real gross domestic product rose 2% in 2008, making the state the ninth highest for inflation adjusted economic growth in the country. We are beginning to see more real estate activity as confidence is gained. The big barrier is the tight control lenders have on credit. It certainly doesn't seem like anyone wants to lend money and the appraisers are coming in with ridiculously low values. Realtors are earning their keep trying to find willing lenders and fighting unwilling appraisers, that's for sure!!!