Albuquerque, NM, November 12, 2012 – Closed sales of detached homes in the greater Albuquerque metro market in October exceeded closed sales for the same month in 2011 by 18.9%. This marks the 16th consecutive month of year over year increases in detached home sales. Pending sales of detached homes were 900, a 14.65% increase over the same month the prior year.
“Traditionally in the fall, we see home sales activity decline,” said Marc Guggino, 2012 GAAR President. “With both an increase in home sales and in new listings entering the market, the fall of 2012 seems to be defying the year-end slowdown,” he stated. “Home prices, both average and median, have been holding steady for most of the year,” continued Guggino.
To see the full report for October market statistics go to GAAR.com and click on Market Statistics.
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3000 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.