Duke City-area home sales continue to send mixed signals, with 570 closed transactions during March, according to the Greater Albuquerque Association of Realtors.
That was a 39 percent improvement from February, but a 10 percent decrease from March 2010.
“March was the single strongest month for home sales since June of 2010,” said Peter Parnegg, GAAR’s president. “There were also 903 pending sales in March. This was the strongest month for pending sales since April 2010, which was the final month to qualify for the federal homebuyer tax incentive.”
A thoughtful insight to the current Albuquerque Real Estate market. From the perspective of a highly active Albuquerque Real Estate Broker, I see the current market being stronger than last year. Last year we saw an artificial spike in activity which was caused by the $8,000 tax credit, aka “Obama Bucks”. The offer encouraged buyers who would have otherwise purchased at other times during the year, to accelerate their purchase, which then condensed a years worth of home sales into several short months. So far this year, we are enjoying a healthy real estate market, though without any incentive. I see this as a strong indicator of a rejuvenating market.