The Latest on Refinancing, Loans, and Interest Rates

Today I’m joined by Bay Equity Homes team members Erika Gabrys and Chris Krupar to discuss what’s been happening in the market this year.

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Before we begin today’s topic, we’d just like to say thank you to all of our clients and referral partners who took the time to vote for us; We are grateful to be the winner of the Albuquerque Journal’s Readers’ Choice for this year, and we’ve also been named the winner of Rio Rancho Observer’s Readers Choice for 2019. That makes this the second year in a row that we’ve won this award, and we couldn’t be more excited.

August 2019 Albuquerque Housing Market Update

Here’s your in-depth real estate market update for the month of August this year.

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What’s been going on in our real estate market this summer? Today we’ll share some key stats from the month of August as well as longer-range trends that we’ve observed over time.

To start, we’ll take a look at the year-over-year stats for August broken down by price range.

Feel free to follow along in the video above or use the timestamps below to navigate the market update at your leisure:

1:58 - Breaking down our year-over-year inventory levels by price range
3:01 - Our year-over-year pending sales
4:01 - How quickly are homes selling?
5:10 - The change in average sales price year over year
6:06 - Average home prices per square foot
8:57 - How market trends are influenced by external factors like wage growth and inflation
9:19 - The status of interest rates
9:54 - Home affordability in Albuquerque 

If you have any questions regarding today’s market update or anything to do with real estate, don’t hesitate to reach out to us. We’d be glad to hear from you.