Albuquerque Housing Market Set To Rebound In 2012? Any guesses as to what is the Albuquerque housing market set to rebound in 2012? There are three major issues causing Albuquerque homes to decline in value, too many homes on the market, distressed properties, high unemployment, and tight bank lending standards. I want to examine each of these issues over the past year. Supply and demand is a simple economic principle, prices decline with too much supply and prices increase as demand increases. Inventory The Albuquerque housing market has seen a 23.5% decline in the number of homes on … Continue reading...
Albuquerque Foreclosures Expected to Increase 151%
Albuquerque Foreclosures Expected to Increase 151% Albuquerque foreclosures have the highest increase in activity according to Realty Trac. According to Realty Trac, Albuquerque foreclosures are going to increase by 151%, the highest increase of all major metropolitan area in the US. A recent Realty Trac article has stated there have been a processing delay and a lackluster economic outlook for the short term; foreclosures are expected to continue to cast a shadow on the nation's housing market well into 2014. Albuquerque tops the 20 markets where banks are starting to push through a new wave … Continue reading...
Albuquerque Foreclosures Special Report
February 10, 2011 Albuquerque foreclosures expected to increase rapidly according to an article this morning by Les Christie a staff writer for CNN Money. The report stated the Albuquerque foreclosures rate in Albuquerque is one in 46 homes and represented a 60.32% increase in 2010. Albuquerque foreclosures is ranked the 67th highest rate among the 206 areas reported by RealtyTrac. Zillow reported this morning that 27% of homeowners in America are underwater on their homes. There are several reports with wide ranging estimates of the number of homes in the foreclosure pipeline. I thought it … Continue reading...