Video – Albuquerque Housing Market Continues Positive Trends – November 2016 Update

by | Dec 8, 2016 | Albuquerque Home Values, Albuquerque Real Estate News, Real Estate Market Reoprt, The Venturi Team Video Blog | 0 comments

Earlier this month I did a quick update as well as the Q3 numbers. Here is a full Video Market Update Report including the HPI numbers for the 3rd quarter as well as a November 2016 update. Two big things I am watching… Home Price Index, and Supply vs. Demand ratio. The HPI has had a 4.49% increase through the 3rd quarter, largest move in 10 years, a healthy move. It will be interesting to see how Oct, Nov, and Dec come out. At this point it looks like we will end up at 5%+ appreciation for 2016 Y/Y. The Supply is low and if the demand trend continues, this could create some challenges. However, the fact the prices are going up will help some people who have been in the position of wanting to sell but having negative equity. As the negative equity goes away that can help bring more homes on the market.