Press Releases

Sixty-one percent of U.S. adults believe home prices in their local area will rise over the next 12 months, the highest percentage since Gallup began collecting such data in 2005. That also marks a big difference between 2008 and 2012, when no more than one-third of Americans believed home prices would increase.

Residents in the western region of the U.S. are the most optimistic, with nearly three-quarters of residents saying they expect price increases compared to slightly more than half of Midwestern and Eastern residents, according to the Gallup poll. With mortgage rates sitting below 4 percent, consumers may have more incentive to act now before home prices rise even more.

Sixty-seven percent of U.S. adults say now is a good time to

FOR IMMEDIATE RELEASE

Contact:                
Don Martindell, President,
505-263-7618, president@gaar.com

Kent Cravens, Executive Vice President,
505-724-3481, kent@gaar.com

ABQ housing market very energetic heading into Spring

Albuquerque, NM (April 10, 2017) – Albuquerque-Metro housing market activity is already breaking records leading into the peak season for real estate. Buyers have taken note of the low inventory and need to act fast, leading to a surge in the number of homes under contract.

Pending sales are at a 14 year high. The 1,299 detached homes placed under contract in March represents a 22.7 percent increase over the same period last year. Compared to March 2016, the 154 pending townhome and condo sales increased

by Steve Sinovic /Albuquerque Journal Staff Writer

In more good news for the real-estate market, thousands of Albuquerque-area residents have regained equity in their homes.

At the end of last year, 5.3 percent of all residential properties with mortgages in the metro area, or 9,359 homes, were in negative equity. That compares to 9.5 percent in December 2015, or 16,701 homes, according to home-equity data from CoreLogic. Having negative equity, often referred to as being “underwater” or “upside down,” applies to borrowers who owe more on their mortgages than their homes are worth. Negative equity, one of the long shadows cast by the housing bubble, can occur because of a decline in home value, an increase in mortgage debt or both.

The growth

The Greater Albuquerque Association of Realtors, are not only here to help you buy and sell a home, they are constantly working to build better neighborhoods and communities in the Albuquerque area.

Each year the GAAR Good Neighbors program recognizes four Realtors in our community that go above and beyond in volunteer service to a local charity. This program is designed to help showcase how Realtors help build the community. We were able to meet a couple of the recipients of this year’s program from the Southwest Women’s Law Center.

2016 Recipient:

Jackie Bregman, Bregman Real Estate

The  Southwest Women’s Law Center's vision is to harness the power of law, research, and creative collaborations to change these realities and to create

FOR IMMEDIATE RELEASE

Contact:                   

Don Martindell, President,
505-263-7618, president@gaar.com

Kent Cravens, Executive Vice President,
505-724-3481, kent@gaar.com

Central New Mexico’s housing market grew 11.87 percent in 2016

Albuquerque, NM (January 31, 2017) – The 2016 annual statistics show Albuquerque metro area’s housing market performed even better than the gains of 2015. Compared to the previous year, the region saw more homes sold at a higher average and median price for single-family detached homes, townhomes and condos.

While the $224,230 average sales price for detached homes was 4.13 percent higher than the $215,331 of 2015, the median sales price rose even more. The 2016 median price for detached homes sold

FOR IMMEDIATE RELEASE

Contact: M. Steven Anaya, 505-690-2729

November Housing Numbers Keep 2016 On Pace to Be Record Year

SANTA FE, NM (December 19, 2016) – Sales numbers and median prices reported to the REALTORS Association of New Mexico (RANM) for November 2016 reflect a healthy month keeping 2016 on pace to be a record-setting year for sales since RANM started keeping statistics in 2008.

“Median prices have also continued to climb,” according to Patricia Fell, 2016 RANM President. “November’s reported median of $187,000 is the highest November median since RANM started keeping state-wide statistics.” Median means half of the properties sold for a higher price and half for a lower price.

November 2008
Number of Sales: 881
Median

FOR IMMEDIATE RELEASE

Contact: M. Steven Anaya, 505-690-2729

October Sales Numbers Down from 2015; Median Prices Continue to Climb

SANTA FE, NM  (November 18, 2016) – The majority of counties reporting sales to the REALTORS Association of New Mexico (RANM) for the month of October showed a decrease in number of sales compared to October of 2015; however, median prices reported are two percent higher than 2015.

According to Patricia Fell, 2016 RANM President, “Even with low inventories in many areas, static job growth, and continuing school loan debt preventing potential buyers from saving for a downpayment, New Mexico’s housing industry continues to be a bright spot in the state’s economy. The reported October volume of $373,200,928

FOR IMMEDIATE RELEASE

Contact:                   

Jon Schnoor, President,
505-385-2154, president@gaar.com

Kent Cravens, Executive Vice President,
505-724-3481, kent@gaar.com

ABQ’s Housing Market Remains Predictably Steady  

Albuquerque, NM  (November 10, 2016) – As we enter the final quarter of 2016, not much has changed since the year began. Both national and local housing market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low mortgage rates and low unemployment rates for Central New Mexico.  The decline in inventory is the one basic drag on the acceleration of Albuquerque’s housing market.

The 825 detached homes sold in October 2016 represented a

FOR IMMEDIATE RELEASE

Contact:                   

Jon Schnoor, President,
505-385-2154, president@gaar.com

Kent Cravens, Executive Vice President,
505-724-3481, kent@gaar.com

As Home Sales Cooled Nationwide, Those In ABQ Continued To Rise

Albuquerque, NM (September 12, 2016) – The number of homes sold began to cool for much of the country last month and given the low inventory situation, conventional wisdom indicates that year-over-year declines are going to be present for the remainder of the year. However, sales in the greater Albuquerque market bucked the national trend and continued to improve.

The 1,071 detached homes sold in August 2016 represented a 9.1 percent increase over the same period last year while townhomes and condo

FOR IMMEDIATE RELEASE

Contact:                   

Jon Schnoor, President,
505-385-2154, president@gaar.com

Kent Cravens, Executive Vice President,
505-724-3481, kent@gaar.com

With more home buyers than sellers, July prices continued to rise

Albuquerque, NM (August 10, 2016) – Even as prices rose through July, homes in the Greater Albuquerque market sold faster than they have in the past several years. This has created a situation where buyers need to move fast in order to secure homes, and they may have to pay more for them as the median detached home price rose 3.2 percent to $189,900 and the average price rose 6.8 percent to $226,192.

While increasing prices generally coax more selling activity, there has been some hesitancy among