ALBUQUERQUE, N.M. — U.S. home sales rose 1.3% in August to the highest level in 17 months, as mortgage rates near historic lows have spurred a rush of home-buying around the country and in New Mexico.
The National Association of Realtors said Thursday that homes sold last month at a seasonally adjusted annualized rate of 5.49 million units, the best performance since March 2018. Sales have increased 2.6% from a year ago.
In New Mexico, the housing market is still showing no signs of slowing down. The New Mexico Association of Realtors this week predicted 2019 will be the second-best year for home prices in the Land of Enchantment since 2008, on the back of strong growth in August.
Through August, 16,915 properties have been reported sold, more than 2,000 more than were sold over the same period in 2017, according to association president Paul Wilson.