Pending Sales Increase in March

Published on May 05, 2010

Albuquerque, NM, May 4, 2010 – Nationally, pending home sales increased again in March, according to the National Association of Realtors®. The national pending home sales index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent from February, and is 21.1 percent above March 2009.
In the greater Albuquerque metro area, March ended with an increase in contracts being put on homes in the greater Albuquerque area. There were more than one-thousand pending sales during the month of March, making it the strongest month for pending sales since July 2007.
“While we are still tracking pending sales for April, we anticipate another month of steady growth across the board,” said Mark Pando, President of the Greater Albuquerque Association of REALTORS®. “We are already on pace to top pending sales figures from March and are forecasting an uptick in the average sales price. The key is to see how this momentum continues now that the tax credit has expired.”
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3,300 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.