A total of 16,916 sales were reported to the REALTORS Association of New Mexico (RANM) during 2014. This is a 1.2% increase over the reported 16,708 sales for 2013 and a 11.4% increase over the 15,182 sales reported for 2012.

The reported 2014 median price of $175,000 is also higher than the medians reported for 2011 ($166,500), 2012 ($167,000), and 2013 (173,000). Median price indicates half the properties sold for more and half for less.

"These figures indicate the New Mexico housing market is continuing to improve, though at a slower pace than 2013," says Baro Shalizi, 2015 RANM President. "The NATIONAL ASSOCIATION OF REALTORS just came out with its predictions for nationwide housing market expectations for 2015. They predict a rise in existing home sales and median home prices. Potential speed bumps in 2015 include a rise in mortgage rates and continued constraints on first-time buyers."

December's numbers contributed to a successful 2014. 1,329 sales were reported for December 2014, with a median price of $178,265.

According to M. Steven Anaya, RANM CEO, "The 2014 volume reported of $3.768 billion is also up over the 2013 volume of $3.626 billion, an increase of over $142 million. Housing continues to contribute in a positive manner to the New Mexico economy. Of course all real estate is local, so while the majority of New Mexico counties reported growth during 2014, we have a number of counties (mostly rural areas) with 2014 numbers lower than those reported in 2013."

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.