Sales of single family detached homes increased 12.65% from the first quarter of the year prior, according to the latest quarterly numbers published by the Greater Albuquerque Association of Realtors. This led to a first quearter of closed sales totaling 1,736, the most since 2008. In addition, the median price of a single family detached home (the price that exactly half the sales were more than and half were less than) increased to $168,000, an improvement of 5%, from the first quarter of 2012.
“The real estate market recovery is slow and steady,” said Julie
Greenwood, President of the Greater Albuquerque Association of
REALTORS®. “Interest rates are still low and affordability has never
been better. Some renters can purchase their own home for close to the
same or lower than their rent payment,” said Greenwood.
Do you think your home has held its value over the past five years?
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