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Home Sales in New Mexico Produces Huge Gains in One Year

Home sales in New Mexico are seeing a near 30 percent increase from May 2017 to May 2018, according to a recent report.

"May's sales numbers bring the 2018 year-to-date sales number to 12,148. This number represents 32% more sales than 2017 January through May," RANM President Connie Hettinga said in a release from the association, according to National Mortgage News.

"Median prices also continue to climb.The May $201,000 median again represents the highest monthly median since RANM began keeping statewide statistical information in 2008."

New Mexico happens to be one of the states that did not see a drop in sales like much of the U.S. did. According to the NMN report, sales in areas where the job market is weak or inventory struggles continue are still low.

"A solid economy and job market in many areas of the country, and the state, should generate a good sales pace," according to NMN.

"In many markets, low inventory is a primary impediment to more sales."

To learn more about New Mexico's budding housing market, click on the image above.

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