2009 Real Estate Guide
real estate
Home price trends in Albuquerque, N.M.

City-by-city price comps
Albuquerque, N.M.
Job losses are bringing clouds to Albuquerque, and the rise in unemployment is affecting residential building permit levels, which have reached the lows of the early 1990s. Chris Porter with John Burns Real Estate Consulting says the market didn't experience the same increase in prices as some of the larger Southwest markets, so the price correction has been less severe. Still, resale prices are expected to fall as unemployment grows.
Median price end of 2008:$183,700
Median price end of 2007:$195,900
Percent change:-6.2%
Projected change through Q3 2009:-8.6%
Affordability rating:1.2
Foreclosures in 2008:
(1 for every 129 households)
2,688
Foreclosures in 2007:
(1 for every 154 households)
2,217
Change in foreclosures:21.2%
Expected to hit bottom:Q3 2010
Percent drop needed to reach bottom:-13.5%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $190,500
Q2 2008 local median price: $199,400
Q3 2008 local median price: $193,400
Q4 2008 local median price: $183,700

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