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August 2011 Closed Sales up 26.42% from August 2010

Albuquerque, NM, September 15, 2011 – The Greater Albuquerque Association of REALTORS® (GAAR) released August housing statistics today showing closed sales up 26 percent from August 2010. There were also 21 more sales in August than in July 2011.

"This is the best August sales month since 2007", said Peter Parnegg, President of the Greater Albuquerque Association of REALTORS®. "Mortgage rates are still historically low and the
strong pending sales in August show it’s still a great time to buy a home".

There were 878 pending sales for August 2011, an increase from the previous month by 7 percent and the previous year by 14 percent. Total sales volume for August was $127.7 million, a 13
percent increase from August 2010.

Market statistics are available to the public at www.gaar.com.

With nearly 3,000 members pledged to uphold a strict Code of Ethics and Standards of Practice, the Greater Albuquerque Association of REALTORS® is the largest professional trade association in central New Mexico and is recognized as a leading provider of real estate information and services.