Housing inventory in Albuquerque and Rio Rancho

Often, people will ask me "How is the Market?".  They have read about the national housing marketing, but they want to know about their house, and their neighborhood. 

While I can't cover every neighborhood in the Albuquerque and Rio Rancho market, I can give you a general idea in this blog.  If you want a more specific look at the market related to your home, please call me at 505-350-0911 and I will be glad to run the numbers for you.

As the chart below states the market is considered a sellers market if there is less than 5 months of inventory of the market.  Sellers will see appreciation, and buyers will see the price they need to pay for a house going up.

 

If the market has more than 7 months of inventory, it is considered to be a buyers market, and prices will generally be going down.

So where does Albuquerque and Rio Rancho stand at the end of March:

• Albuquerque has 4.6 months of inventory (SELLERS MARKET)
• Rio Rancho has 5.03 months of inventory (NORMAL MARKET, MOVING TOWARDS SELLERS MARKET)