I have noticed something lately.
Every morning and every evening I pull up Active listings and Pending listings, what has sold and been listed in the last 24 hours. I also pull up activity for vacant homes vs. occupied homes as a separate list.
What I have noticed lately is an abundance of activity for ‘vacant’ homes finally going under contract in the Albuquerque area.
This is great news for our inventory. It means that more of these homes that the owners have left b/c of job transfers or even foreclosure – have finally found new owners! If the owners have left for other job opportunities it means they will now be able to buy at their new destination. It means that foreclosures (which are fairly low in our area) are being bought and finding new families to love them. If an owner has vacated their Albuquerque home to buy another one locally…it means now they have been relieved of the responsibility of ownership and can move on with more productive activities.
I feel the market turning around in a definitely positive way.
If you need a market analysis or update for your Albuquerque home, please feel free to contact me anytime.