The Truth: The Seasonality of Albuquerque’s Real Estate Market

The Truth: The Seasonality of Albuquerque’s Real Estate Market

(Transcript Snippet): “Tego:

One last thing I wanted to hit on Tracy is the seasonality of our market. Um, I know we’re just about out of time, but I wanted to just say there’s been a lot of conversations out there about, oh, the market is slowing down. There’s, you know, there’s more homes coming on the market. There’s um, you know, it’s well, let’s, let’s not put more into that. Yeah. Let’s not put the truth. It is not the truth. There’s been some national stories that, that show that, but here locally, Albuquerque, that’s not happening right now. We’re actually a hundred less homes in the market this week than just last week. So we’re actually declining in a number of homes in the market. We’re at historically low level of homes on the market. We still have strong buyer demand. And so, you know, the, the so-called slowdown that we’re seeing, um, even though it, it, it’s not the franticness that we had earlier in the year.

Tego:

Um, there’s still a lot of buyers out there and I’ll just say, one last thing is it’s very common that we do see a little bit less activity, a little less by buyer activity this time of year. It’s very common and there’s nothing unusual about it at all. Exactly. And so, you know, the people that are thinking, okay, here it comes, the market’s shifting. It’s like, no, this is, this is pretty much normal seasonal trends. Um, one thing I, you know, that, that we see year after year is that home prices tend to kind of peak out this time of year. What, what people are, what they’re selling for. They kind of, they kind of level off through the fall and into the winter and then usually go roaring back in the spring. So we’ll see if that, that historic trend stays.