A great June for home sales means the 2015 year-to-date reported sales of 8,806 is the highest number reported since 2008 when the REALTORS Association of New Mexico (RANM) started keeping market statistics. 1,850 sales were reported in June 2015, a 20% increase over the number of sales reported in June 2014.
January-June 2008
Number of Sales: 7,535
January-June 2009
Number of Sales: 6,009
January-June 2010
Number of Sales 7,065
January-June 2011
Number of Sales: 6,390
January-June 2012
Number of Sales: 7,013
January-June 2013
Number of Sales: 7,951
January-June 2014
Number of Sales: 8.051
January-June 2015
Number of Sales: 8.806
"Eighteen New Mexico counties reported an increase in 2015 year-to-date sales over 2014 January through June figures. Higher rents, a stronger job market, and gradually rising interest rates are coaxing many first-time home buyers into becoming home owners," says Baro Shalizi, 2015 RANM President. "Even though statewide trends are rosy, there are counties where economic conditions mean the housing market is not as robust as in other counties. Real estate is after all, local."
During June 2015, seventeen New Mexico counties reported an increase in sales over June 2014. Torrance, Los Alamos, Lea, Lincoln, Taos, and San Miguel counties all reported over a 40% increase in sales comparing June 2014 to June 2015. Statewide, June median prices are also higher than those reported in June 2014. Median price indicates half the properties sold for more and half for less.
June 2014 Number of Sales: 1,542
Median Price: $179,092
June 2015 Number of Sales: 1,850
Median Price: $189,000
"While all these numbers are good news for the housing market, housing affordability numbers have dropped slightly from a year ago," says M. Steven Anaya, RANM CEO. "A continued limited number of homes for sale mixed with a higher buyer demand and growing home prices continue to chip away at the NATIONAL ASSOCIATION OF REALTORS" housing affordability index. Lower mortgage rates are not completely offsetting the increase in home prices."
The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.
Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats. Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 7/16/15. Visit www.nmrealtor.com (housing trends) for county statistics.
Complete county by county reports can be found at http://www.nmrealtor.com/wp-content/uploads/2015/02/June-and-Q2-Combined.pdf