Rio Rancho Home Sales Decline by 19% In June 2014
Wow! Home sales declined by 19% in the month of June 2014 compared to June 2013. There were 146 homes sold in June 2014 compared to 180 homes in June 2013. Rio Rancho home sales have declined in 3 of the last 4 months of 2014. May saw a decline of 26.6%, April saw an increase of 2.3%, and March saw a decline of 20.6%. This is clearly a trend for the city of Rio Rancho and a concern for many people selling their homes. What is causing this significant decline in home sales for the city of Rio Rancho? It is really tough to pinpoint the exact cause of this disturbing trend for the City of Vision. One factor that is causing the decline is the change in interest rates. Interest rates for Mortgages increased significantly about one year ago, rising interest rates make it more difficult for home buyers to qualify for a mortgage. Lending standards are getting tougher everywhere and this makes it more difficult for home buyers to qualify for a loan. These two items are certainly contributing to the slow down in home sales but there is something else causing the huge decline. Albuquerque is also experiencing a decline in home sales but not to the same extent as Rio Rancho. There is definitely something local to Rio Rancho that is contributing to the decline in home sales. I believe part of the decline is the reduction in work force at Intel and Hewlett Packard. Both companies have been reducing staff over the past few years and this is playing out in the housing market. This is pure speculation on my part as I do not have data to support this statement. However, it just makes sense, Intel and Hewlett Packard pay there employees a good salary and provide good benefits. I also believe this illustrates the importance of these two companies to the city of Rio Rancho. It also illustrates the need for other good paying jobs in the city of Rio Rancho.
People trying to sell their homes are getting hit with less buyers and at the same time the number of homes for sale are increasing. This means it will take longer to sell your home and there is much more competition. People selling their homes in Rio Rancho need to understand the market dynamics in order to become more informed about the market. This market is moving more in the direction of the home buyers. With more homes on the market and less buyers, buyers can be more selective and look for better deals.
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Myers & Myers – Rio Rancho Real Estate Specialists – Call Today! (505) 401-7500
Our goal at Myers & Myers Real Estate is to help you find the right home, don’t miss out on any homes that meet your goals, and don’t over pay for your next home. Myers & Myers Real Estate is a full service brokerage serving Rio Rancho, Albuquerque, and Corrales New Mexico. Call us today at 505 401-7500 if you are looking to buy or sell a home in Rio Rancho, Albuquerque, or Corrales New Mexico.
Myers & Myers Real Estate in the only full service real estate company you will need if you are buying or selling a home, house, homes, real estate, townhouses, townhomes, lots, land, foreclosures or investment property in Albuquerque, Rio Rancho, or New Mexico, NM.
For buyers, our foremost goal is to provide you with exceptional customer service and assist you in finding the perfect home in the right neighborhood to fit for your lifestyle and needs. Please utilize our Rio Rancho real estate expertise to make your home search and buying experience as stress free and rewarding as possible.
If you sell your home , rest assured that we utilize the latest, cutting-edge real estate marketing tools to expose your property to the widest range of potential buyers. We are here to get your Albuquerque real estate aggressively marketed to sell as quickly as possible and for the best price!
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Our mission is to provide you with exceptional customer service and assist you throughout the transaction. Please call us today or fill out the online contact form, and let us now how we can best serve your Albuquerque real estate needs. We look forward to speaking with you!
John Myers, Owner and Qualifying Broker
Myers & Myers Real Estate
Office: 505 401-7500
We have 10 step process to help home buyers. Our goals are:
- Help you find the right home
- We don’t want you to pay too much for your home
- Make sure you don’t miss out on any homes that meet your criteria.
We have a 14 step process to help home sellers. Our goals are:
- Help you get your home sold and get you where you want to go one time,
- To help put you in the strongest negotiating position possible,
- To make it easier for you and reduce surprises