![]() "The upward pressure on home prices due to the housing shortage was compounded by the flood of folks relocating from major - and majorly expensive - urban areas during COVID, which itself was further intensified by the extremely low mortgage interest rates during that period. Albuquerque Journal subscriptions include unlimited access to our digital replica edition 'eJournal', our Apps, and our website. ![]() Currently the Albuquerque Journal has obituaries from March 1, 1998, through May 16, 2023. "For a variety of reasons, home construction never truly bounced back after the recession and, as a result, housing supply has not kept pace with growth in the number of households that want to own a home," O'Donnell said. Please check your search terms and / or make sure you have a valid date selected. Kelly O'Donnell, a longtime New Mexico economist and chief research and policy officer with Homewise, told the Journal the local housing market ended up here due to a variety of factors, including - but not limited to - the Great Recession more than a decade ago, supply chain issues that drove up costs of construction in recent years and low mortgage rates during the COVID-19 pandemic. It's an increase of more than $28,000 since the beginning of the year. Let La Quinta Inn & Suites by Wyndham Albuquerque Journal Ctr NW be the bright spot in your travel journey with free breakfast, WiFi, and contemporary guest. May 19-The lack of supply in the Albuquerque metro area continues to seep its way into increased home prices.Īfter a drop-off in January, the median sales price for a single-family detached home has reached an all-time high - $344,040 in April for the Albuquerque metro area, according to the Greater Albuquerque Association of Realtors.
0 Comments
Leave a Reply. |