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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Albuquerque, N.M.
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This central New Mexico city -- even attractive to folks like Georgia's "Runaway Bride" Jennifer Wilbanks -- is experiencing strong population growth, especially in residents 35 to 54 years old. Job creation is also positive, at nearly 3 percent. Single-family construction declined 33 percent in the last six months, with prices on the upswing, by 17 percent.
4th quarter 2006: $187,500
Median price 4th qtr 2005: $174,100
% change: 7.7%
Projected avg price end of 2007: $247,900
Current avg 30-year fixed rate: 5.79%
Current avg 5/1 ARM rate 5.54%
*Affordability rating: 5.1
Foreclosures in Jan. 2006:
(1 for every 485 households)
630
Foreclosures in Jan. 2007:
(1 for every 1,158 households)
264
Change in foreclosures: -58.1%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $174,100
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price rises 7.7% to $187,500
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007




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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.36%
15 yr fixed mtg 3.39%
5/1 ARM 3.36%
Rates may include points
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