2012 New Mexico Home Sales Numbers Set Records

Posted on 21. Jan, 2013 by Stephan Helgesen in Economy

15,098 home sales were reported to the REALTORS Association of New Mexico (RANM) during 2012.  This is over 13% more sales than reported in 2011 (13,300) and is nearly 6% higher than the 2008 count of 14,218, the largest activity before 2012 since RANM began keeping state-wide figures in 2007.

22 reporting counties showed an increase in sales from 2011 to 2012; 3 showed no change; and 6 reported a decrease in sales.

2012 median prices are up slightly from those reported in 2011.  The 2012 median is $167,500; the 2011 median was $166,500.  The 2012 New Mexico median price is over 10% lower than the 2008 high of $188,000.  Median price indicates half the properties sold for more and half for less.

“The December median of $171,100 was higher than the November 2012 median of $169,697,” according the Cathy Colvin, 2013 RANM President.  “While distressed properties are still a disproportionate share of many markets, this increase in median prices is partly a result of low inventory and indicates market prices are beginning to stabilize.”

Even with the December increase in state-wide median prices, houses remain very affordable.  RANM CEO M. Steven Anaya reports “The NATIONAL ASSOCIATION OF REALTORS (NAR) predicts 2012 will clearly go down as a record year for favorable housing affordability conditions and a great year for buyers who could get a mortgage.”

The trends and numbers reported are only a snapshot of market activity.  If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.

Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats.  Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only.  Information does not necessarily represent all activity in any market/county.  Figures based on reports run 1/16/13.  Visit www.nmrealtor.com (housing trends) for county and board statistics.

This article was submitted by the REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,800 members involved in all aspects of the residential and commercial real estate market.

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