Albuquerque’s Housing got a Solid Boost in September

Albuquerque’s nascent housing recovery got a solid boost in September, when closed sales of detached homes in the greater Albuquerque metro area exceeded sales for the same month in 2011 by 26 percent.

This marks the 15th consecutive month of year-over-year increases in detached home sales. There were 884 pending sales of detached homes, a 9.27 percent increase over the same month the prior year, according to the Greater Albuquerque Association of Realtors.

“Even with the traditional slowdown during the fall months, sales continue to outpace 2011,” said Marc Guggino, GAAR president, in a news release. “Sales for 2012 are on target to exceed total sales for 2011. The housing recovery is vital for our economy and, while we aren’t there yet, the numbers are trending in the right direction. To put it in perspective, the number of homes selling in 2011 was approximately half of what sold at the peak of the market in 2005.”

Read the full story by: Steve Ginsberg Reporter- New Mexico Business Weekly

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