Is it a good time to be a homebuyer in the Albuquerque area?

Is it a good time to be a homebuyer in the Albuquerque area?

(Transcript Snippet): “Tracy:

So that goes right into the story. We’re going to talk about as in, is it a good time of year to be a home buyer? And it’s very funny. The statistics people come up with, sometimes I go, huh? I love this stuff, but I know you do. But this statistic says between what, October 3rd and October 9th, every year is the prime most, best days to buy a house most dispossessed.

Tego:

And yeah, I mean, those kinds of things are funny, right? Because you know, they, they take, and they look at, you know, national numbers, right. They’re looking at national averages and they’re, they’re trying to come up with something. And,

Tracy:

And they’re saying the week of October 3rd is the best time to buy a house. So here we are.

Tego:

And what I would say is if we look at the Albuquerque market and F and it just really depends on what is your criteria is your criteria. Okay. You want to purchase when there’s the most number of homes available to choose from. Do you want to purchase when, uh, maybe a low point in the ebb and flow of prices throughout the year, you know, what’s most important to you, but if you were to look at our market in, in the Albuquerque area and say, okay, what’s the best time of year to put a home under contract, that’s going to yield you the best price through the year. It’s actually, sometime in November is what I’ve come up with. Yeah. And that’s based on that, usually home prices, if you look at price per square foot are the lowest in January and February. So you think about homes going under contract in November, December, right?

Tego:

That’s that’s when those homes actually went under contract. So I I’m thinking it’s November, December, if you’re looking at it from a pure pricing standpoint, however, if you look at it from an availability standpoint and having the most choices, it’s more like April and may, actually may is probably even better because, um, March, April, we don’t have quite as much. And usually by may, that’s when we see the, the, the most number of homes on the market. So the answer to this question of what is the best time to be a home buyer, is it depends.

Tracy:

I was going to say, and we haven’t even answered that question. Really. We can look at every statistic out there and really the when’s the best time to be a home buyer when you’re ready, when you need a house when it’s right for you, right.

Tego:

Yeah, absolutely. Now and again, I mean, if you go back and look at the data, I just pulled it up here just to verify what I would thinking was true. Yeah. It’s may, June is a, is when we have the peak number of homes on the market.