Highest First Quarter Sales Since 2008

Albuquerque, NM, April 23, 2012 – 1^st Quarter 2012 single-family home sales increased 11.75% from 1^st Quarter 2012, also making it the highest year over year 1^st Quarter gain in home sales since 2008.   Average sale prices saw a 6.26% reduction from 1^st Quarter 2011 while the median price saw a 3.61% drop from the same period.

“The real estate market is ready for good news,” said Marc Guggino, President of the Greater Albuquerque Association of REALTORS^®, “and this is the third consecutive quarter that sales have improved over the same quarter the prior year” “Supply and demand economics is starting to work,” said Guggino. “Inventories are low, interest rates are low and the consumer is anticipating that prices will soon stabilize, all factors that encourage them to get back into the market,” he continued.