Highest 1st Quarter Sales since 2008
Albuquerque, NM, April 23, 2013 – According to the latest quarterly figures prepared by the Greater Albuquerque Association of REALTORS®, sales of single family detached homes rose 12.65% compared to the 1st Quarter of 2012. The median price of a single family detached home—the figure at which half the homes sold for more and half for less— increased 5.0% to $168,000 from 1st QTR 2012. First quarter closed sales of 1,736 are the highest since 2008.
“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.
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.