New Mexico home sales rise 13 percent

New Mexico Business WeeklyWith a 13 percent gain in home sales statewide, real estate executives are asking if this is finally a sign of a turnaround. “There is optimism,” said Debbie Rogers, 2012 President of the REALTORS Association of New Mexico. “Brokers have started seeing multiple offers at list price or higher during the past few weeks. Many distressed properties are still on the market and influence median prices. However, banks are beginning to see the wisdom of short sales over foreclosure, and this is helping our market.” In May, 1,358 sales were reported to RANM, compared to 1,256 in April 2012 and 1,200 in May 2011. The May median price was $170,000, 3 percent higher than the median reported in May 2011. “Short sales and foreclosures throughout the state are reflected in year-to-date median prices — $163,000 — which is just over 1 percent lower than the 2011 January through May median,” said Steven Anaya, RANM executive vice president. “The good news is the number of sales continues to increase. Over 10 percent more sales have been reported to date for 2012.” For the first five months, 5,619 sales were reported, compared to 5,094 sales reported during the same period in 2011. Read More News New Mexico



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