May 2014 New Mexico Home Sales Outpace April 2014

Category: Real Estate Matters Real Estate Matters
Published: 23 June 2014 23 June 2014

New Mexico's May Housing trends show an increase in number of sales reported to the REALTORS Association of New Mexico (RANM) over numbers reported for April 2014. Median prices also continue upward.

During May, 2014, 1,497 sales were reported. This is up 6.7% from the 1,403 sales reported in April 2014.
May's $179,900 median price is up 5.9% from the reported April median of $169,900. Median price indicates half the properties sold for more and half for less.

While May 2014 median prices show an increase from 2012 and 2013, the good news for 2014 is tempered slightly when comparing the number of sales for May 2014 to May 2013. May 2014 numbers are down over 9% from May 2013 report
of 1,652 sales.

"2014 year to date sales numbers are slightly ahead of 2013 year to date numbers, – mostly due to a very strong start in the early months of 2014. May's increase over April is hopefully a predictor of continued increases in sales for the rest of the year," according to Sandylee Pasquale, 2014 RANM President. "A steady rise in median prices is also a good indication of a healthy real estate market."

"Real estate activity plays an important role in the state's economy. Not only did May's activity result in a volume of $339,147,499, every property sale generates income for ancillary industries," said RANM CEO M. Steven Anaya. The latest research from the NATIONAL ASSOCIATION OF REALTORS (NAR) shows that when a home is sold in New Mexico,$15,489 of income is generated from real estate related industries and $4,429 is spent on consumer items such as furniture, appliances, and paint services."

The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood."

Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats. Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Board of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures based on reports run 5/29/14. Visit www.nmrealtor.com (housing trends) for county and board statistics.

The REALTORS Association of New Mexico is one of the state's largest trade associations, representing over 5,500 members involved in all aspects of the residential and commercial real estate market.

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