I'm dead tired from showing houses in Albuquerque and Rio Rancho. After a 30 day lull from November 15 to December 15 I have been incredibly busy.
Buyers have been coming out of the woodwork. In all price ranges and areas.
Homes that are priced appropriately for the market are being snatched up fast. And if they're not short sales they will actually close in time for those buyers who want to cash in on the First Time Home Buyers Credit.
The latest market report from the Greater Albuquerque Association of Realtors shows that home inventory in Albuquerque/Rio Rancho is quickly moving towards a balanced market. According to the National Association of Realtors, a 6 month inventory of homes is a balanced market and is not a buyers market or a sellers market.
In June of 2009 there was a 9.55 month supply of inventory. In December of 2009 that number was down to a 7.70 month supply of inventory.
If the trend continues, and it's sure to continue until the expiration (will it really expire?) of the First Time Home Buyer Tax Credit on April 30, then we could be in a balanced market as soon as April 2010.
Albuquerque and Rio Rancho Buyers better get off the fence and think seriously about purchasing now, or you'll look like this mummy when you ealize the opportunity you just missed!
Start your Albuquerque Home Search at www.SearchAlbuquerqueHouses.com
Albuquerque Realtor Rich Cederberg works for RE/MAX Finest in Albuquerque New Mexico. Previously Rich worked for RE/MAX Elite and the Vaughn Company Realtors for 5 years. He specializes in Albuquerque Real Estate, Northwest Albuquerque Real Estate, Rio Rancho Real Estate and Los Lunas Real Estate. He especially enjoys working with First Time Home Buyers. Call Rich if you need a Albuquerque REMAX agent.
