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Home prices continue to improve

Albuquerque, NM, May 11, 2012 – Median homes prices in the Albuquerque real estate market show year-over-year increases for the second month in a row with a 6.1% increase from the previous year, according to the Greater Albuquerque Association of REALTORS®.

The average sale price also increased, rising 6.6% from May 2011.  Sales of single-family homes in May rose 16.6% versus one year earlier.

"Activity in the housing market is good," said Marc Guggino, President of the Greater Albuquerque Association of REALTORS®, "and REALTORS® are reporting more interest by consumers who are sensing that now is the time to buy."  "Closed sales for May are the strongest since May 2007," Guggino continued, "which is encouraging."

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.

Market Report

May 2012 Market Report