Albuquerque Real Estate | Venturi Realty Group
Albuquerque Real Estate Trends: November 2025 Market Update (Slow but Steady)

Albuquerque Real Estate Trends: November 2025 Market Update (Slow but Steady)

Dec 5, 2025 | Albuquerque Real Estate News, For Buyers, For Sellers, Housing Market Updates, Pricing, Real Estate Market Reoprt

Albuquerque Real Estate Trends: November 2025 Market Update (Slow but Steady)

November 2025 was one of the slowest months we’ve seen in a while for Albuquerque home sales. Closings dropped, prices stayed basically flat, and inventory inched up but remains below pre-2020 levels. Here’s what the data really says and what it means if you’re thinking about buying or selling in 2026.

  • Closed sales in November fell to 638, down about 12% from November 2024 and almost 200 fewer than in October.
  • Prices are flat to slightly up for 2025 overall: median at $355,000 across all home sales in November, 1.4% lower than November 2024.
  • We expect annual appreciation to be ~2–3% higher year-over-year for the full year.
  • Inventory sits around 2,086 homes, up ~5% from last year but still slightly below 2019 levels at this time of year.
  • Days on Market has drifted back toward a “normal” pace at about 49 days, similar to 2018–2019.
  • National forecasts call for a ~14% jump in home sales next year, which could mean roughly 1,400 more closings in the Albuquerque area if that plays out locally. :

Market Snapshot – November 2025

November was sluggish. Only 638 single-family homes (attached and detached) closed in the Albuquerque area, about 190 fewer than in October and roughly 12% below November 2024’s 728 closings. Year-to-date, though, total 2025 sales are still slightly ahead of 2024, so November looks more like a soft patch than a collapse.

On the pricing side, the median sales price came in at $355,000 in November, down 1.4% compared to November a year ago and off from October’s $362,750. But when you zoom out beyond a single month, 2025 still looks like a modestly positive year for prices, with overall appreciation tracking in the 2–3% range and price-per-square-foot for November running exactly flat versus last year.

Why it matters

  • Buyers: You’re not fighting runaway price gains. A flat-to-modestly-up market gives you more room to negotiate and more time to think.
  • Sellers: You can still sell at or near the peak values achieved over the last couple of years, but you can’t count on multiple offers day one. Strategy and pricing matter again.
  • Investors: A boring market is usually a healthy market. Small, steady gains are more sustainable than boom-and-bust cycles.
Weekly Altos-style snapshot: inventory dipped seasonally into late November, buyer activity pulled back over Thanksgiving, and showings are now ticking back up as we move through December.

Foot Traffic & Buyer Demand: Holiday Dip, Normal Pattern

One of the best forward-looking indicators we watch is showing activity—how many buyers are actually out touring homes each week. In 2025, showings slid sharply at the end of November, right on cue with the Thanksgiving holiday. That same late-November drop shows up in every recent year on the chart. After the holiday, activity starts to recover into December, then takes another pause around Christmas.

Overall, 2025 has fewer buyers out shopping than some of the boom years, but the showing trend looks very similar to 2024. Fewer house hunters, yes. But not a ghost town.

Why it matters

  • If you’re selling: Expect fewer showings over the holidays. That doesn’t mean your home is “broken” – it’s just the calendar.
  • If you’re buying: This is a sneaky window of opportunity. With fewer competing buyers in November and December, you may have more negotiating room.

Inventory: Up From Last Year, Still Below 2019

Active listings for November clocked in at about 2,086 homes on the market. That’s roughly 4.9% more inventory than one year ago and about 300 fewer homes than we saw in October as sellers started to pull back heading into the holidays.

When we look at a longer weekly view back to 2019, Albuquerque has more homes on the market than in the tight-supply years from 2020 through 2024, but still fewer than in 2019, when there were about 2,150 active listings at the same time of year. Many large markets nationally have already moved above their 2019 inventory levels, but Albuquerque remains a bit undersupplied by that benchmark.

Why it matters

  • Still a supply shortage: We have more homes to choose from than during the extreme pandemic squeeze, but not a glut.
  • Pricing support: Slightly tight inventory helps keep prices from falling even when demand is soft.
  • Strategy for sellers: With fewer new listings hitting the market through January and early February, a well-prepared listing can stand out.
Long-term Albuquerque price and inventory trends: strong post-2020 appreciation followed by a shift into low single-digit annual growth and modestly higher inventory through 2024–2025.

Days on Market: Back to a “Normal” Pace

Average Days on Market (DOM) for homes that actually sold in November landed at 49 days. That’s strikingly similar to February 2020, right before the pandemic, which sat at about 45 days. It also feels a lot like the 2018–2019 market—slower than the frenzy years, but still healthy.

Remember, DOM measures how long a property sits from Active status until it goes under contract (Pending). It doesn’t include the homes that never sell, only the ones that find a buyer.

Why it matters

  • Buyers: You have time to think, inspect, and negotiate. Homes aren’t vanishing in 24 hours anymore.
  • Sellers: A realistic expectation is key. If your home takes 30–60 days to go under contract, that’s not failure – it’s the market.
  • Pricing check: If you’re well beyond the average DOM for your price bracket, it’s a signal to revisit price, condition, or marketing.

Pending Sales & New Listings: Quiet but Steady

Looking at “homes in pending” each week, we finished November with 969 pending sales, and the 90-day moving average sat around 1,021—just a hair above the same point in 2024 (about 1,002). That tells us there is steady contract activity happening behind the scenes, even if the closed sale count looked weak in November.

New listings are following their usual seasonal pattern. They dropped off sharply through late November and will likely keep easing down into January before picking up again in February and March. For several years in a row, that pattern has repeated almost like clockwork.

Why it matters

  • Buyers: You’ll see fewer fresh options over the holidays, but you can still find opportunities among existing inventory and homes returning to the market.
  • Sellers: Less competition from new listings can help your home stand out if you’re willing to list in December or January.

How Albuquerque Compares & What’s Next for 2026

Compared to some big markets—parts of Texas, Denver, and Phoenix—Albuquerque has held up better on prices, with far less downward pressure. Our median of $355,000 and average price around $410,000 still sit below many regional peers, even as we wrestle with our own affordability challenges.

Nationally, the National Association of REALTORS® is projecting about a 14% increase in home sales for next year. If that plays out here, it would mean roughly 1,400 more closed sales on top of the ~10,000 transactions expected in our market for 2025. We’ll see how that forecast lines up with reality once we get into the spring selling season.

Why it matters

  • More move-up and move-down buyers: As rates and affordability stabilize, some of the “locked-in” owners may finally make their move.
  • Pricing stability: A moderate increase in sales without a major inventory surge usually supports flat-to-modest price gains.
  • Planning window: If you’re targeting a move in 2026, now is a good time to tighten up your finances and get a strategy in place.

Buyer & Seller Q&A – November 2025 Edition

Q: Are Albuquerque home prices going up or down right now?

A: For November 2025, the median price was $355,000, down about 1.4% from last November. But looking at the full year, prices are roughly 2–3% higher than 2024, and price-per-square-foot for November is flat year-over-year. In plain English: prices are basically holding steady, not surging or crashing.

Q: Why were November 2025 home sales in Albuquerque so slow?

A: We only saw 638 closings in November, which is low for our market and notably weaker than both October and last November. The holiday calendar, fewer active buyers, and a slower national economy all play a role. The good news is pending sales and showings suggest it’s a soft patch, not a full stop.

Q: How many homes are for sale in Albuquerque right now?

A: The November reading showed about 2,086 active listings. That number moves daily, but it’s a good snapshot: slightly more homes available than last year at this time, but still a bit below 2019 levels, so we’re not in a high-inventory buyer’s market yet.

Q: Why are homes staying longer on the market?

A: Average Days on Market is now around 49 days—up from the frenzy years but similar to 2018–2019 and to pre-pandemic 2020. DOM measures how long it takes a home to go from Active to Pending. With more balanced supply and demand, it’s normal for homes to take 30–60 days to find the right buyer.

Q: Is 2025 a good time to buy a house in Albuquerque?

A: For many buyers, yes. Prices are stable, inventory is modestly higher, and you’re not fighting bidding wars on every well-priced home. Whether it’s “good” for you depends on your budget, job stability, and time horizon. If you plan to own for 5–10 years, a flat or slow-growth market like this can be a solid entry point.

Q: Is now a good time to sell my home in Albuquerque?

A: If you have a compelling reason to move, you can still sell successfully. Prices are near their highs, and inventory is not excessive, which helps well-priced, well-prepared homes stand out – especially during the winter when new listing counts are lower. If you’re flexible on timing, we’ll help you decide whether an early-spring or late-winter launch makes more sense for your specific neighborhood and price point.

About Venturi Realty Group — Data-driven Albuquerque real estate pros with 4,000+ closed transactions and active involvement in GAAR and SWMLS. We host the Albuquerque Real Estate Talk podcast and provide weekly market updates to help you make informed decisions. Call 505-448-8888 or visit WelcomeHomeABQ.com.

Albuquerque Market Updates | Search Homes | Contact Venturi Realty Group

Closing Costs in Albuquerque, NM | A Buyer & Seller Guide

Closing Costs in Albuquerque, NM | A Buyer & Seller Guide

Oct 21, 2025 | Albuquerque Real Estate News, For Buyers, For Sellers

Understanding Closing Costs in Real Estate: Albuquerque Market Insights

From Episode 556 of Albuquerque Real Estate Talk

By Venturi Realty Group

"Closing costs" is one of the most common, and most confusing, topics in a real estate transaction. For both buyers and sellers, these fees can feel mysterious, often raising critical questions: What are they for? Who is responsible for paying them? And most importantly, how much is it all going to cost?

A clear understanding of closing costs is essential for a smooth and predictable home buying or selling experience. In this detailed breakdown, Tego and Tracy Venturi (with questions from Asel Venturi, who has a background in home loans) dive deep into the world of closing costs to give you the clarity and confidence you need for your next transaction in the Albuquerque real estate market.

Who Pays the Closing Costs: Buyer, Seller, or Both?

The short answer is: both. In a typical Albuquerque real estate transaction, the seller has their set of closing costs and the buyer has theirs. However, the most important thing to know is that this isn't a universal rule; it's highly dependent on local customs.

"This is very specific to our location, right? In Santa Fe it's different. In Kentucky, it's different. In Texas it's different. In Las Cruces it's different."

- Tracy Venturi

Beyond local customs, who pays for what can also be a point of negotiation. Depending on whether it's a buyer's or seller's market, one party might ask the other to cover a specific fee to make the deal work. For example, a buyer who has their down payment ready but is short on cash for other fees might ask a seller to cover some of their closing costs as part of the offer.

Who Pays For Closing Costs?

  • Both Parties Pay: Buyers and sellers each have their own set of closing costs.
  • It's Local: Who pays for what is determined by local custom (Albuquerque vs. Santa Fe vs. other states).
  • It's Negotiable: Nearly all costs, including commissions, are negotiable and can be part of the offer.
  • Buyer Costs = Loan: Most buyer costs are tied to their mortgage (appraisal, underwriting, etc.).
  • Seller Costs = Title: A primary seller cost in NM is the Owner's Title Insurance Policy for the buyer.
  • Ask for Help: Buyers can (and often do) ask sellers for contributions toward their closing costs as part of the initial offer.

What's Included in Closing Costs?

The total amount for closing costs "depends" because it's specific to each person's situation. The biggest factor is whether a mortgage is involved. A cash buyer, for example, will have very few closing costs because they don't have any loan-related fees.

Typical Buyer Closing Costs

For a buyer getting a mortgage, the majority of their closing costs are associated with originating the loan. These fees are the buyer's responsibility.

"Anything associated with the loan or getting the mortgage is gonna be a buyer closing cost."

- Tego Venturi

This can include:

  • Mortgage Application Fee
  • Loan Origination Fee
  • Underwriting & Processing Fees
  • Credit Report Fee
  • Mortage Rate Buydown
  • Appraisal Report

Other Fees and Costs Home Buyers Have:

  • Property Inspections Costs
  • Homeowners Insurance
  • Property Tax Escrow Funding

Typical Seller Closing Costs

In the Albuquerque market, a seller's closing costs typically include:

  • The Owner's Title Policy: This is a major one. It's an insurance policy that the seller purchases for the buyer to guarantee they are receiving a "clear title." As Tracy explains, "The title company is checking the history of the property and making sure they're conveying clear title, that there aren't any liens or judgements on the property."
  • Title Company Fees: Most of the title company's fees for managing the closing. This is also called Escrow fees sometimes.
  • Real Estate Commissions: The fee paid to the real estate professionals who facilitated the sale.

A Note on Real Estate Commissions

Real estate commissions are always negotiable. Typically, a seller agrees to a fee with their listing agent, and a buyer agrees to a fee with their buyer's broker. In our market, it is common for a buyer to write an offer that asks the seller to pay the buyer's brokers commission. As Tego notes, recent rule changes have brought more transparency to this negotiation.

When Are Closing Costs Paid?

This is different for buyers and sellers.

For Sellers: Most seller costs are paid at the very end, at closing. They are simply deducted from the proceeds of the sale at closing. The only exceptions might be if a seller pays for a inspection (septic inspections are normaly paid by the seller) or for repairs done prior to closing.

For Buyers: Buyers have some up-front, out-of-pocket costs before the closing day. These typically include:

  • Earnest Money: This is a good-faith deposit submitted with the offer, which goes toward your closing costs.
  • Independent Consideration: A small, non-refundable payment from buyer to seller that makes the contract binding.
  • Inspection Fees: Buyers almost always pay for their home inspections at the time of service.
  • Appraisal Fee: This is often prepaid to the lender.

The rest of the buyer's costs, including the down payment, are paid at the final closing in one lump sum called your "Cash to Close."

How Can a Buyer Reduce Closing Costs?

If you're a buyer, you have two main strategies for reducing the amount of cash you need to bring to closing.

1. Ask the Seller for a Contribution

You can ask the seller to contribute a certain amount toward your closing costs. However, this must be part of the negotiation from the very beginning.

"That's a part of the initial offer. That's not like we're down the road, we're under contract, and now I'm gonna ask the seller to cover these costs. That's a part of the whole offer process right up front."

- Tracy Venturi

For example, you might offer a specific price and ask the seller to "contribute $5,000 toward buyer's closing costs and prepaids." The seller then evaluates your offer as a whole. This is a very common strategy, especially for buyers using FHA or VA loans.

2. Use Down Payment Assistance Programs

New Mexico has excellent programs to help with down payments and closing costs. The best-known is Housing New Mexico (formerly known as the Mortgage Finance Authority or MFA). These programs have specific income and credit score qualifications, but they are a fantastic option for many buyers looking to reduce their upfront expenses.

When Will I See My Final Closing Cost Numbers?

You won't be in the dark, but the final, exact number isn't available until the very end. Here's the timeline:

  • For Buyers (Up-front): When you first apply for a loan, your lender must provide you with a "Loan Estimate" (LE). As Tego mentions, "You have to get a disclosure on what the closing costs could be. It's an estimate."
  • For Sellers (Up-front): At Venturi Realty Group, when we list your home, we provide you with a "Seller Net Sheet." This is a detailed estimate of all your costs so you can see your net proceeds from day one.
  • The Final Number: The final, 100% accurate "Cash to Close" number for the buyer and the final "net proceeds" for the seller usually arrive the day before signing the closing documents.

FAQ: Closing Costs in Albuquerque Real Estate

What are closing costs?

Closing costs are the fees and expenses typically paid at the end of a real estate transaction. They cover services like lender fees, broker fees, title insurance, appraisals, recording, and escrow needed to transfer ownership.

Who pays closing costs — the buyer or the seller?

In most Albuquerque transactions, both buyers and sellers pay closing costs. Buyers typically cover loan-related fees, while sellers cover title and commission costs. The split can be negotiated in the offer.

How much are typical closing costs for buyers in Albuquerque?

For financed purchases, buyer closing costs usually range from 2% to 4% of the purchase price. Cash buyers often pay less because there are no lender fees.

Can a buyer ask the seller to pay some closing costs?

Yes. Buyers can request a seller contribution toward closing costs in the initial offer (for example, a flat dollar amount or percentage). The amount is limited depending on the type of loan.

What’s included in buyer closing costs?

  • Loan origination and underwriting fees
  • Appraisal and credit report fees
  • Home inspection fees
  • Homeowners insurance and escrow setup
  • Buyer's broker fee

What’s included in seller closing costs?

  • Owner’s title insurance policy for the buyer
  • Title company or escrow fees
  • Real estate commissions paid from sale proceeds

What is independent consideration in a real estate contract?

Independent consideration is a small, non-refundable payment from the buyer to the seller, separate from earnest money. It may be required to make the purchase agreement legally binding, especially when the buyer has a due-diligence period.

When are closing costs paid?

Buyers pay some items upfront (like inspections and appraisals) and the rest at closing as their “Cash to Close.” Seller costs are usually deducted from sale proceeds at closing.

How can buyers reduce closing costs?

Buyers can reduce costs by negotiating seller credits, comparing lender fees, and using down payment or closing cost assistance programs such as Housing New Mexico (formerly MFA).

When will I know my final closing cost numbers?

Buyers receive a Loan Estimate after applying and a final Closing Disclosure about three days before closing. Sellers receive a Seller Net Sheet early and a final settlement statement before signing.

Are real estate commissions part of closing costs?

Yes. In most Albuquerque transactions, commissions are part of the seller’s closing costs and are fully negotiable.

Get the Right Advice

Navigating closing costs, negotiations, and loan programs requires what we call "the trifecta": a great buyer (or seller), a great real estate agent, and a great mortgage broker all working together. Our team is here to help you put together the numbers, work with fantastic local lenders, and guide you into the best program for your needs. If you're thinking about buying or selling, we'd be happy to sit down, go through it all, and help you make the best decision for your situation.

Thinking of Buying or Selling?

We're here to help you navigate the process, from closing costs to closing day. Call us for a no-obligation consultation.

Venturi
Realty Group

☎ Phone: (505) 448-8888

✉ Email: info@welcomehomeabq.com

📍 Address: 1119 Alameda Blvd NW, Albuquerque, NM 87114

Send Us a Message

Insider Insights: Real Estate News, Housing Search Trends, and ADU Plans in Albuquerque

Insider Insights: Real Estate News, Housing Search Trends, and ADU Plans in Albuquerque

Dec 26, 2023 | Albuquerque Home Values, Albuquerque Real Estate News, Albuquerque Real Estate Talk, For Buyers, For Sellers, Housing Market Updates, Real Estate Market Reoprt

Casitas and AUD’s Accessory Dwelling Units in Albuquerque

The City of Albuquerque has made some significant movements in allowing Casitas (AUDs) on residential properties zoned R-1, and they are offering free casita construction plans on its website. The plans are so detailed and complete that they help streamline and make the cost of building Accessory Dwelling Units on one’s property very affordable, with significant savings in contractor fees.

There are many different reasons why people want to have a casita. Some people use them to produce rental income. They can also be used for home offices, home theaters, a painting space, or a hobby room. People should also have some extra living space for family members to stay in when they visit.

To be allowed to start construction, it is crucial to get a site plan, speak to a planning and zoning department, and make sure the construction plan is within regulation.

The increase in value that casitas allow is challenging to determine. The answer to this question will vary depending on construction costs and level of finish, to name a few.

What Home Buyers Searched for in 2023

The amenities inside the house you buy is significant and Zillow tells us what the top amenities people want are. Zillow, the number one Home Shopping website, looked at over 250 billion user searches in 2023.

The top 10 searches were primarily practical needs that an average family would ask for in a new home, such as a two-car garage and a backyard. However, some personalities were shown, with searchers seeking a house with a fireplace and a walk-in closet.

How vital these items are is crucial for people selling their home and for real estate professionals since it is essential to understand what is important to different home buyers.

From practical (the ever-wanted garage) to picturesque (a backyard retreat anyone?), these are the amenities that round out both the modern and traditional. Backyard: For most Americans, part of the “dream” is an eco-friendly, grass-filled backyard. Fireplace: An architectural luxury, the fireplace creates your dream home scenario on a cold, particularly fabulous winter’s day. Walk-in closet: The practical yet vain response to the master bedroom’s walk-in closet is always positive. Patio: There’s nothing better than extending your living room outside, friends. Open floor plan: A modus operandi of the millennial, the open floor plan is the dreamiest combination of kitchen, dining, and family rooms. Forever together. Pool: The ability to have your very own swimming pool in a warm area is a picturesque scenario. Family room: Who doesn’t love extra space for that big family? Basement: Just more space for any occasion — workout room, media room, etc. Granite counters: This durable feature signifies a high-end kitchen or bathroom.

Mortgage Rates and Buy vs Rent

Low interest rates, especially sub-seven percentages, factor heavily in the buying consideration, and we caution renters, in particular, to do the math regarding the cost of owning.

Air Ducts in Your Home
One of the topics we covered in our last episode was the importance of performing regular cleanings and inspections of heating ducts in residential properties. This is especially necessary in some older homes, which often have in-floor heating and cooling ducts. When purchasing, we cannot overstate how critical it is to perform a complete inspection of these ducts with a camera-scoping procedure to detect potential problems such as collapses or corrosion.

 

Our comprehensive coverage of the Albuquerque real estate market is designed to empower individuals with the knowledge they need to navigate this crucial aspect of their lives confidently. From housing trends to financing options, market dynamics, and buyer/seller tips, we strive to provide our listeners and readers with valuable insights to help them make informed decisions and achieve their real estate goals.

Using Real-Time Maket Data to Understand the Albuquerque Real Estate Market

Using Real-Time Maket Data to Understand the Albuquerque Real Estate Market

Dec 11, 2023 | Albuquerque Real Estate News, For Buyers, For Sellers, Housing Market Updates, Pricing, Real Estate Market Reoprt

A Comprehensive Guide to the Albuquerque MSA Housing Market Tracker

Introduction to the Albuquerque Housing Market Tracker

We recently launched the Albuquerque Real Estate Market Tracker, your indispensable tool for navigating the dynamic real estate landscape of the Albuquerque Metropolitan Statistical Area (MSA), which includes Bernalillo, Sandoval, Valencia, and Torrance counties. This guide offers weekly insights into the market, focusing on single-family detached homes and providing an in-depth analysis of the latest trends, inventory changes, and price movements. Whether you’re a buyer, seller, or a real estate professional, our tracker is designed to give you a competitive edge in the vibrant Albuquerque housing market.

Coverage and Scope: What to Expect

The Albuquerque Real Estate Market Tracker offers a comprehensive housing market overview, covering key metrics such as the Market Action Index (MAI), inventory levels, new listings, and more. This seven-day snapshot is your gateway to understanding the nuances of the local real estate market.

The Importance of Real-Time Market Insights

In today’s fast-paced real estate environment, staying informed with the most current data is crucial. Our tracker provides up-to-date information, enabling you to make timely and informed decisions.

Key Metrics of the Albuquerque Market Tracker

Market Action Index (MAI): Understanding Market Favorability

The MAI is vital in determining whether the market favors buyers or sellers. It analyzes the current rate of property sales against existing inventory, offering a clear picture of market conditions.

 

Inventory Analysis: The Pulse of Market Supply and Demand

Monitoring inventory levels is critical to understanding market trends. It provides insights into whether we’re in a buyer’s or seller’s market and helps predict future market dynamics.

New Listings Insights: Tracking Market Entries

The number of new listings offers a window into seller behavior and market shifts. This data is crucial for anticipating changes in the market landscape.

Listings Absorbed: A Measure of Market Activity

This metric (listings absorbed) reveals how quickly properties are being purchased, indicating the current demand and the market’s overall health.

 

Median List Price: Decoding Market Value

The median list price is an essential indicator of seller confidence and buyer interest. It helps predict future price trends and provides insights into the market’s current state.

 

List Price per Square Foot: A Detailed Market Comparison Tool

By comparing the median asking price per square foot, we gain a more nuanced understanding of the market, factoring in variations in home sizes for a more accurate analysis.

 

Median Price of New Listings: Predicting Market Trends

This metric sheds light on the pricing strategies of new market entrants and is a crucial indicator of emerging market trends.

 

Percent of Price Decreases: Indicators of Market Health

Understanding the proportion of homes with reduced prices helps gauge market demand and potential shifts in pricing trends.

 

Average Days on Market: Timing the Market’s Pulse

Tracking the average time homes spend on the market provides insights into how fast properties sell, indicating the market’s pace and activity level.

 

Percent Relisted: Understanding Market Resets

This figure highlights the proportion of homes returning to the market, offering a perspective on the stability and fluidity of the market.

 

Why the Albuquerque MSA Housing Market Tracker is Essential

For Buyers: Making Informed Decisions

The tracker offers valuable insights into market trends for those looking to purchase a home, helping you make well-informed decisions.

For Sellers: Maximizing Market Advantage

Sellers can use the tracker to understand current market conditions and strategically price their homes to maximize their advantage.

For Real Estate Professionals: A Tool for Strategic Planning

Real estate agents and professionals can leverage the tracker for strategic planning, staying ahead of market trends, and advising clients effectively.

Conclusion: Navigating the Albuquerque Housing Market with Confidence

Summing Up: The Value of Real-Time Insights

The Albuquerque MSA Housing Market Tracker is an indispensable tool for anyone involved in the Albuquerque real estate market. Its comprehensive and timely data empowers users to make informed decisions, stay ahead of market trends, and confidently navigate the market.

FAQs: Your Questions Answered

Q1: How often is the Albuquerque Market Tracker updated?
A1: The tracker is updated weekly on Sunday, providing the most current insights into the Albuquerque housing market.

Q2: Can the tracker help predict future market trends?
A2: Yes, by analyzing current data and trends, the tracker can offer valuable predictions about future market directions.

Q3: Is the tracker useful for first-time home buyers?
A3: Absolutely, it’s a valuable resource for anyone entering the market, especially first-time buyers seeking to understand market dynamics.

Q4: Does the tracker cover rental properties?
A4: The focus of our tracker is on single-family detached homes, offering specific insights into this segment of the market.

Q5: How can sellers use the tracker to their advantage?
A5: Sellers can use the tracker to gauge market conditions, price their homes competitively, and understand buyer trends.

 

Sell My Albuquerque House or Keep It As A Rental?

Sell My Albuquerque House or Keep It As A Rental?

Dec 2, 2022 | Albuquerque Real Estate News, For Sellers

Should I Sell My Albuquerque House or Keep It As A Rental?

Tego
Tracy, we’ve been getting a lot of people asking this question, and so we want to answer it and put a video out on it. And that is I’ve got a home I’m thinking of selling, but I’m also thinking maybe I should just rent it. And so let’s go through some of the pros and cons of that and what people should be thinking about.

Tracy
Sure. So some of the pros right. We’ve seen houses appreciate greatly over the last few years, and maybe you want to hold on to that house and have it keep appreciating and have somebody else pay you while it’s appreciating.

Tego
Right.

Tracy
And if you have an underlying mortgage, they might be paying it off for you while you’re doing something else for your living.

Tego
Yes. There’s a lot of good financial reasons to do that, not for everybody. So you need somebody to help you evaluate that. That’s something we can do. If you’re interested, we’re the Venturi Group with Keller Williams here in Albuquerque. So just reach out to us. Tracy, if you are going to be renting your home, one of the things you need to consider is, is it allowed? For a couple of different ways. One is, does your mortgage allowed? If you have a mortgage, you need to check on that. Also, are there neighborhood regulations, CC&Rs or HOA rules that might disallow it? You nit iseed to check that as well.

Tracy
And the CC&Rs and the HOA rules Tego could vary between short term rental and long term rentals. So there’s a lot of people who want to do short term rental these days, and that might be a little bit harder to find neighborhoods where that’s allowed. So long term is usually pretty okay, but obviously check with the rules.

Tego
So, Tracy, what are some of the other reasons?

Tracy
Well, you know, if you’re moving and you think there’s a chance you might need to move back again, you might want to hold on to that house and rent it out. We’ve seen that a lot. Job change, life changes, people move somewhere else, and then they want to go back and they want to be where they were. So that might be another reason to rent out your house.

Tego
Some financial reasons, that’s my deal, is obviously the income from cash flow, right. The rental income, money coming in. There’s also tax advantages to having a rental property. You can depreciate the asset. There’s also you’re building equity over time, and somebody else is helping you pay down that mortgage that you have on the property. All of those things you need to, especially the tax and some of the implications there. You do need to talk to your accountant and your CPA about that’s our disclaimer there.

Tracy
Right. So not everybody is meant to be a landlord Tego right.

Tego
Yeah.

Tracy
So you might want to hire a property manager, which might cost a little bit of money. Right. They usually take 10% to 15% of the rent to manage the property for you, but then it’s managed for you. There are other possible downsides to renting out your house. You could have it vacant for a while, while you’re waiting for a new tenant. There could be damage to the house. You have to still keep up the equipment and make sure it’s working properly. But overall, there’s lots of pros and cons.

Tego
Yeah, absolutely. And really what it comes down to, whether it makes sense for you or not to convert your home into a rental property, it just has to be right for you. And so if you want any help picking some of these questions, just reach out to us again with the Venturi Group, Keller Williams Realty. You can reach us at 505-448-8888 here in beautiful Albuquerque, New Mexico. Thanks for watching. Take care.

Wondering Where You’ll Move if You Sell Your House Today?

Wondering Where You’ll Move if You Sell Your House Today?

Jul 18, 2022 | For Sellers, Housing Market Updates, Move-Up Buyers, New Construction

Wondering Where You’ll Move if You Sell Your House Today? | Simplifying The Market

If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. That’s because today’s market is undergoing a shift, and the supply of homes for sale is increasing as a result. That means you may have a better chance of finding a home that will meet your current needs. Here are some options to consider.

Buying an Existing Home Can Give You That Lived-in Charm

According to the National Association of Realtors (NAR), the supply of existing homes (a home that’s been previously owned) has steadily increased since the beginning of the year. The graph below indicates inventory levels are rising, and that’s largely due to more homes coming onto the market and the pace of sales slowing:

Wondering Where You’ll Move if You Sell Your House Today? | Simplifying The Market

As the graph shows, if you’re looking for a home with lived-in charm, supply is rising, and that’s great news for you.

Danielle Hale, Chief Economist for realtor.com, gives insight into why more homeowners are listing their homes and adding to the growing supply of existing homes today:

“Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options. We’ve seen more homes come up for sale this year compared to last year . . .”

There are several benefits to buying an existing home. Many buyers want to purchase a home with history, and the character of older houses is hard to reproduce. Existing homes can often be part of an established neighborhood featuring mature landscaping that can give you additional privacy and boost your curb appeal.

Plus, timing can be a consideration as well. With an existing home, you can move in based on the timeline you agree to with the sellers, rather than building a new home and waiting for construction to finish. This is something to keep in mind, especially if you need to move sooner rather than later.

Just remember, while more sellers are listing their homes, supply is still low overall. That means you’ll have more options to choose from as you search for your next home, but you’ll still need to be prepared for a fast-moving market.

Purchasing a Newly Built or Under Construction Home Means Brand New Everything

Census data shows there’s an increasing number of new homes available for sale. It includes homes that are under construction, soon to be completed, and fully built. As the graph below highlights, the supply of new homes for sale has also grown this year:

Wondering Where You’ll Move if You Sell Your House Today? | Simplifying The MarketWhen building a new home, you can create your perfect living space and customize it to your lifestyle. That could mean everything from requesting energy efficient options to specific design features. Plus, you’ll have the benefit of all new appliances, windows, roofing, and more. These can all help lower your energy costs, which can add up to significant savings over time.

The lower maintenance that comes with a newer home is another great advantage. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. And with new construction, you’ll also have warranty options that may cover portions of your investment for the first few years.

Keep in mind, purchasing a new home could mean waiting a considerable amount of time before you can move. Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy at the National Association of Home Builders (NAHB), explains:

“New single-family home inventory remained elevated at a 7.7 months’ supply. . . . However, only 8.3% of new home inventory is completed and ready to occupy. The remaining have not started construction (25.9%) or are currently under construction.”

That’s an important factor when making your decision and one you should discuss with a trusted real estate advisor. They’ll help you think through all the pros and cons of both new and existing homes to help you arrive at your best decision.

Bottom Line

With the supply of homes for sale rising, you have options for your next home no matter what your preferences are. If you have questions or want help deciding what’s best for you, let’s connect and start the conversation today.