Win Win For Home Buyers And Sellers This Fall

Dated: 10/10/2017

Views: 236

By Scott Albright, REALTOR®

The M Real Estate Group

(505) 247-1002 ext. 156

Fall is here! The leaves are changing colors, hot air balloons are high in the morning sky, the air is chillier, and homes still need to be sold. Whether you are a buyer or a seller, fall is a great time to take care of your real estate needs. Investors who held out during the spring and summer months might be pleasantly surprised to see houses that have been on the market for a while significantly reduced in price. And homeowners ready to sell might notice that the market is still hot. According to the Greater Albuquerque Association of Realtors (GAAR) September 2017 Market Statistics report, the median detached home price increased 2 percent while the overall inventory of detached homes decreased by 18.5 percent.[1] By following the basic rules of supply and demand, one can predict that similar trends will follow for the next couple of months.

As the inventory (supply) goes down and demand stays steady, then prices will continue to go up. This is great news for sellers, but buyers are lucky too. With mortgage rates still at historic lows, and median home prices in New Mexico far below those in neighboring states, buyers are striking great deals found nowhere else in the country.[2] So, it’s a win-win for everyone, that is until the market changes, which it will because it always does. That means good deals for everyone are just around the corner, but probably not for too much longer, because when the air gets colder, the market will likely follow suit. According to Realtor Magazine, 2018 will see “a moderate increase in mortgage rates” which “will help slow the run-up in home prices next year,” meaning the market won’t be as hot as it is now.[3] Make the best out of this fall season and act on your next real estate transaction before all the leaves fall from the trees. Whether you are buying or selling, now is the time to take action!

[1] Greater Albuquerque Association of Realtors. “September 2017 Market Statistics”, Oct. 10, 2017.

[2] Trulia. “Home Prices and Heat Map”, accessed Oct. 10, 2017.

[3] National Association of Realtors. “Housing Predictions for 2018”, Realtor Magazine, Sept. 22, 2017.

Home In ABQ

Scott Albright is an associate broker with The M Real Estate Group in Albuquerque, New Mexico. Scott has held his New Mexico real estate associate broker’s license since May of 2016, license number 49911. He is the happy father of three children, has a master’s degree in China-U.S. Relations, a bachelor’s degree in political science with a minor in journalism, and is constantly expanding his knowledge in real estate through continuous trainings, courses, and networking events. Scott served four years as an infantryman in the U.S. Marines and continues to offer his service in the field as a trained real estate professional. You can reach Scott on his cell phone at (505) 918-2370 or by downloading the Millions Mapped app using this link:

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