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Today, we want to give you a quick update on market conditions here in Albuquerque.
You've probably seen in the news that interest rates have been inching up as of late. They're still low, but this rise is expected to continue for some time.
We're currently seeing low inventory, which is making it hard for the many buyers out there who are looking for the perfect home. If you're thinking about selling, now might be the ideal time to get top dollar for your home and sell quickly!
Despite low inventory, we currently have a good assortment of homes available. In some other markets, some homes are getting up to 20 offers within a week of getting listed! Inventory is low but stable in Albuquerque, which means it's not a bad time to be a buyer either!
Now is a great time to be a move-up buyer, which is someone looking to move from their $150K-$250K home to buy a home that's around $400K. There are a lot of buyers looking for homes in the $150K-$250K range, and there aren't many buyers to compete with in the higher price ranges.
If you have any questions about where our market is heading, or if you need real estate assistance of any kind, give us call or shoot us an email. We would love to help you take advantage of our healthy market!
