ALBUQUERQUE, N.M. — Albuquerque’s home prices continued to rise during a busy summer, according to a new industry report.
The Greater Albuquerque Association of Realtors released its third-quarter report on home sales in central New Mexico. The report notes that average sale price for detached single-family homes sold during the quarter stood at $261,219, a jump of more than 5% from the third quarter of 2018.
John Lopez, president of the association, said a stable, growing local economy, low interest rates and an influx of new residents has contributed to Albuquerque’s strongest quarter in years. Despite a potential slowdown for the national economy, Lopez said he’s bullish on New Mexico’s housing market going forward.