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Albuquerque, NM, September 10, 2012 – Closed sales of detached homes in the greater Albuquerque metro market in September exceeded closed sales for the same month in 2011 by 26.31%. This marks the 15th consecutive month of year over year increases in detached home sales. Pending sales of detached homes were 884, a 9.27% increase over the same month the prior year.
“Even with the traditional slow-down during the fall months, sales continue to outpace 2011”, said Marc Guggino, 2012 GAAR President. “Sales for 2012 are on target to exceed total sales for 2011,” he stated. “The housing recovery is vital for our economy and, while we aren’t there yet, the numbers are trending in the right direction,” continued Guggino. “To put it in perspective, the number of homes selling in 2011 was approximately half of what sold at the peak of the market in 2005,” he said.
To see the full report for September 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.