Last updated: 9:44 am
Statewide home sales for July as well as median prices continue to outpace totals from the last two years, the Realtors Association of New Mexico reported Tuesday.
The 1,638 home sales last month — a combination of new and existing homes — represented a 15 percent increase over the 1,422 sales the previous month and well above the 1,391 sales in July of last year and 1,201 sales in July of 2011, RANM said.
“The July 2013 statewide median of $180,502 is the highest July median since the 2010 figure of $181,000,” RANM President Cathy Colvin said in a statement. “The 2013 year to date median ($170,000) is also the highest year-to-date median reported since 2010, when the median was $173,800.”
The median price indicates half the properties sold for more and half for less.
RANM CEO M. Steven Anaya noted that homebuilder confidence is rising and mortgage rates remain near historic lows.