Albuquerque Housing Stat of the Week. A historical perspective on the supply side of the Albuquerque housing market.
We compared June 2022 to the 2017/2018/2019 June averages. This is what I found.
The ACTIVE Home Listings in June 2022 were 2,070 FEWER than the 17/18/19 average, 69.5% less.
The number of NEW Listing in June 2022 was 404 FEWER for the month than the 17/18/19 average, 25.6% less.
This came up because in the past few weeks have seen and heard many conversations about the “surge” in the number of homes on the market and that maybe it is signaling some big change that could affect prices. However, supply always grows this time of year (and… we see an increase in price reductions).
The takeaway… we still have a supply deficit and although demand has slowed, the supply side has a long way to go to be back to something close to balance.