May 2022 Albuquerque Real Estate Report

May 2022 Albuquerque Real Estate Report

Transcript Snippet: “

Tego:

Let me just give a couple, couple things going on that I saw in the may data. So the, obviously we’re in, we’re in June, now, June, 2020. Uh, what is it? June 4th, 2020 and the may numbers. I went through ’em thoroughly and I, I posted an update on my, my Facebook as well as on, uh, Twitter, as well as on YouTube, uh, the short video. So if you wanna, did

Tracy:

You skip TikTok and Instagram or?

Tego:

Yeah, I just can’t do it all. I just, I’m too old for TikTok. I think I, I don’t think I’m, I’m allowed.

Tracy:

We can always train

Tego:

You. Yeah, I know. I know. So, so first off please, uh, follow me if, if you wanna keep on what’s going on with the market. I don’t, I don’t post much other than just market market, uh, stuff going on again, either Facebook or Twitter, it’s Tigo, T E G O Ventura. I’m not gonna be another one out there, so I’m easy to find. So, um, where was I going with

Tracy:

That? FHFA

Tego:

No, no, no, it was stats.

Tracy:

Well, I’ve something stats

Tego:

I’m sure. Yeah, it was so may, um, the, the, the big thing that I’m, I’m seeing here both in April and may is a number of sales are declining. And so people will be seeing headlines that say home sales, declining, home sales, declining, home sales declining, and, and then a lot of people will see that and say, uhoh home prices are dropping. It’s like, no, they’re two different, totally different things. And so what what’s interesting is even though the number of home sales have, are dropping compared to 2021, which was obviously a historic, you know, year, record year for home sales, the prices continue to go up.

Tracy:

We it’s so good to point that out Tigo because you see a headline and you say, you see dropping and you assume it’s prices. Yeah. Right. And, and unless you really read and think about what that really means.

Tego:

Yeah. And so we’ve seen, uh, just, just a quick rundown on some of the, the stats, um, FHFA, which was probably one of the most reliable, uh, sources for, um, market trends, home price index. Um, they, uh, they came out with, uh, through the first quarter and Albuquerque came in at 17% year over year home price appreciation, um, through, uh, Q2 of, of 22. That was,

Tracy:

Uh, number 50 out of the top 100.

Tego:

Yeah. So that, that was

Tracy:

Exactly. So there were 49 places that had appreciation higher than.