Albuquerque Real Estate Market Data: Sales, Inventory and Prices compared to last year

(Transcript Snippet): “Tego:

Tracy. Okay. Real estate market data. I, I just gotta go over a couple things cause I know a few things jumped out at me. So just taking a first look at the, the January sales data inventory prices, all that good for the, the market area. And one thing that I, I noticed is that actually home prices for January this year versus January of 2021 are down slightly, slightly. And I, and, and I’m, I mean I, I said that totally, I’m sorry. From January, from December to January home prices came, came back. I’m sorry, not from a year ago, from a year ago. Average price per square foot is up almost 17% from January last year from December to January to January home prices pulled back just to hair came back just a little bit. And you know, if you see in the headlines,


Tego, is that Typical for this time of year?


Exactly what I was gonna say, Tracy, it’s very common, very normal. This time of year, we see this kind of peak sometime, you know, late in the year and then a little bit of a pullback January, February, and then usually it’s, you know, off to the races. So we’ll see how it goes coming here. So, so home prices, you know, and like I said earlier, home pricing, home prices, stabilizing is not a bad thing. Really. You know, we, we don’t, you know, this whole idea that home prices went up 17% in a year. You know, you can’t do that year over year, over year. It’s just, it’s just not healthy. Right? We, we can’t keep up that pace. So the, the, the thing that I saw that I didn’t like is a number of new homes coming on the market in January this year versus January of last year is down 18%. So I would sure like to see more homes coming onto the market just because we are so behind. And you know, we’re not gonna go through all the reasons why, again, you know, that it, it would be nice to see more homes coming on the market. We know there’s a lot of buyers out there waiting for, for homes to come on. And I I’m, I’m optimistic that we’ll see some people really gearing up and getting their homes on the market here in the next month or so. And


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