ABQ Home Sales Sag In July

That is the headline but what’s behind the numbers? First of all, we had some terrible financial uncertainty that threw everyone off guard for a couple of weeks. That will stop things dead in their tracks. While it is true that the housing recovery in ABQ is up and down, we see a steady solid influx of new buyers and a few new sellers. Usually, sellers have already got their homes on the market to catch the summer traffic. In ABQ, new listings always slow come Fall and Winter. Sales in ABQ have been steadily rising month by month bucking the national trend until July. Compared to last year however, sales are up by 12 percent. The home prices went up but are still below last year’s level. Statistics can be viewed at www.gaar.com. Call me if you want to see what this means for you.

Home Sales Expected to Uptrend

Home sales are expected to stay on an uptrend through 2012. The chief economist of the National Association of Realtors, Lawrence Yun, expects 5.3 million existing-home sales this year, up from 4.9 million in 2010, with additional gains in 2012 to about 5.6 million. Rates are lower than low so call if you would like to buy or sell. Now is the time.