New Mexico Real Estate News Realtor Association of New Mexico
Taos vs the National Market
How does New Mexico compare nationally? Like National, "most N.M. markets experienced rising inventories and a slower pace compared to 2006". NAR (national Association of Realtors) research indicates that in 2007 the number of existing homes sales was down 12.8%,statewide N.M. saw a decrease of -17%, Taos a decrease of -16%. While nationally the 2007 price of a home was down slightly from 2006, N.M. numbers show a 3% increase (to $180,460), Taos a 9% increase (to $357,258).
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Other Facts about the New Mexico Real Estate
Foreclosure activity in the U.S. was up 75% in 2007 from 2006. 2007 foreclosure filings in N.M. were down 26% with only 3,893 statewide foreclosures. N.M. unemployment numbers are below the national average: U.S. @ 5.1%, N.M. @ 3.7% (for Dec. 2007). N.M. had the nation's second highest rate of personal income growth for the 3rd quarter of 2007, 1 1.9% increase compared to a 1.4% national average.
