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Slight Decline in First-Quarter Home Sales

 Albuquerque, NM, April 20, 2011 –There were 1,379 closed detached home sales during the first-quarter of 2011, a two percent decline when compared to the first quarter of 2010, according to the Greater Albuquerque Association of REALTORS®. “In all there were 34 fewer detached homes sold in the greater Albuquerque metro when you compare the two quarters,” said Peter Parnegg, President of the Greater Albuquerque Association of REALTORS®. “During the first quarter of last year the market was aided by the income tax credit,” Parnegg said. GAAR discovered pockets of improvement throughout the metro. “In the City of Albuquerque there were 8 MLS areas where home values improved and across the metro there were 29 MLS areas where home sales increased from the first quarter of 2010,” Parnegg said.

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.