These reports show national numbers, we are shown on this as a "moderate" market for buyer activity but we are seeing otherwise. Our listing inventory is down 24% and the average days on market are down 16% from 2016. This proves we are not a stale market. Most homes are going under contract within the first 54 days of listing. Check out the local statistics at the bottom of the page. Information provided by KCM Blog In school, we all learned the theory of supply and demand. When the … [Read more...]
Archives for April 2017
Who can afford a house in Albuquerque?
Source: Albuquerque Business First A new housing study from online real estate company Trulia shows Albuquerque teachers can afford a bit more than half of the homes on the market here. With houses in Albuquerque having a median listing price of $229,000, Truliareported Albuquerque teachers could afford about 59 percent of Albuquerque's home listings. Teachers in the Duke City had a median income of $49,393 in 2016. First responders, which include police officers, sheriff's deputies and firefighters, were in … [Read more...]
Millennials Flock to Low Down Payment Programs
A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January. The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings from December. An article by DS News points to the new wave of millennial homebuyers: “It seems that the long-awaited influx of millennial home buyers is beginning. Ellie Mae reported that mortgages to … [Read more...]