New Mexico home sales are continuing to increase despite the national numbers which suggests sales are down overall, according to a recent report. Making the New Mexico market quite promising.
"Three thousand one hundred fifty-five sales were reported to RANM in August 2018. This is an increase of over 45% from the number of sales reported in August 2017," Connie Hettinga, RANM President, said according to National Mortgage News.
"With less than 800 sales to go, 2018 is on its way to surpassing 2017 year-end number of sales during the first three quarters of 2018."
Overall, numbers across the nation have been pretty dismal. Competition for homes in popular areas have driven prices up, scaring away potential buyers. Though, New Mexico has found a formula that continues to churn out stellar results even with home price increase.
"New Mexico median home prices also continue to hover around the $200,000 mark," Steven Anaya, RANM chief executive officer, said according to NMN.
"August's median of $206,950 is the second highest monthly median reported this year. The year to date median of $200,000 has remained steady since June."
To learn more about the positive trends in home sales for New Mexico, click on the image above.