Albuquerque’s economic recovery continues to improve as summer boosts travel and homebuying

Albuquerque Business First's Recovery Index brings you some good news this month.

The Albuquerque economy improved to 83.4 percent recovered from the recession, up from last month when it was 81.9 percent recovered. The Albuquerque International Sunport saw 428,552 passengers coming through the airport in May.

Housing permits continued to rise, a good sign of increased construction.Recovery in this sector doubled last month and continues to rise. Home sale prices continued to see increases as well, now at 94.1 percent recovered with a median detached home sale price of $193,000 in May.

Occupancy rates for office and retail space were not available for 2016 Q2. The average asking price for class A office space in 2016 Q1 was $20.59 per square foot. Average asking price for retail was $14.23 for neighborhood and $13.81 for strip.

Private and government jobs stayed around the same, with the number of government jobs decreasing slightly from April and private jobs increasing in number.

See the infographic below for the historical data for median detached home sales prices. Prices have reached a high not seen since 2008. While some of the categories are continually on the rise, with a couple of them reaching and exceeding 100 percent, others are making slow improvements or seeing ups and downs throughout the year. Click here to read the full article.