Albuquerque, New Mexico - New Mexico Realtor® Joe Maez of Coldwell Banker Legacy says Albuquerque real estate shows a significant volume increase in year over year existing home sales and new home sales, with lower prices bringing in more real estate investors to the Albuquerque area. The New Mexico real estate market statistics reflect lower prices and increased volume in both existing home sales and new home sales.
Maez says this is due in part to the fact that sellers who have been resistant to lowering their price have been convinced that it's necessary to do so in order to get their home sold. He says that during any kind of market pullback, there are going to be homeowners who refuse to accept the price declines.
"Some sellers start out convinced they can outlast it. For owners who have no pressing need to sell, this is fine, but for those who become more motivated over time, the point comes when reality sets in."
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