Albuquerque Market Updates

780 pending contracts in September, fewer than a year ago and fewer than August, as rates above 7% started pricing some buyers out. Here’s the part that matters: homes are averaging 44 days to go under contract, down from 49 a year ago, so the market has quickened even as volume cooled. Inventory crept up and median price held essentially flat at $376K. We’re not seeing a correction, we’re seeing a market that rewards the homes priced and presented right from day one.