March 2008 Home Sales Report

Published on Nov 06, 2008

Activity continued to rise in the central region with 1,460 reported closed and pending sales. GAAR is seeing increased activity as always at this time of the year. Interest rate adjustments have once again sparked interest with the consumer and the fundamental reasons for home ownership are very present.

The Greater Albuquerque Metropolitan Area continues to play by its own rules unlike the many parts of the country that are still experiencing severe declines. While the Greater Albuquerque Metropolitan Area has experienced inventory that is higher than one year ago, population continued to rise making the growth in inventory expected. Days on market have actually decreased to 69 days from 71 in February. All of these indicators are signs of a stable market.

Cathy M. Olson, CRS, Chairman of the Board