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Home » Rio Rancho Housing Market Is Struggling in 2014

Rio Rancho Housing Market Is Struggling in 2014

Rio Rancho Housing Market Is Struggling in 2014Rio Rancho Housing Market is struggling in 2014.

So far the Rio Rancho housing market is sending mixed messages and some earl trends are a little troubling.  The most troubling trend for the Rio Rancho housing market is the number of homes being placed in to pending.  In four of the first five months, pending sales are down by double digits.  In January pending sales were down 23.96%. in February pending sales were up 28.3%, in March pending sales were down 12.32%, in April pending sales were down 27.11%, in May pending sales were down 16.92%.  Pending sales occur when a buyer and seller reach an agreement to purchase the home in the near future.  Another troubling trend for the Rio Rancho housing market is the number of homes on the market.  For the past two months the number of homes on the market have increased by 13.19% in May and 8.07% in April.  We also saw a 26.63% decline in closed sales for the month of May as compared to May 2013.  This is typically the strongest time of the year for homes sales in the Rio Rancho housing market.

Simple economics tells us that less buyers and more inventory will put pressure on home sales prices.  Economics tells us the current situation should cause home prices to fall in the Rio Rancho housing market.  However, the average sales price in May inreased by 8.84% over prices in May 2013.  In addition, the median home price in May increased by 6.23% over May 2013.

What does all this mean?  Nobody can predict the future, however is is clear the Rio Rancho housing market is struggling and is sending us mixed messages.  In my opinion the most important learning here is we need to continue to monitor all the data and it will help us understand where the Rio Rancho housing market is headed.

Written by John Myers on June 11, 2014.  Data is taken from the Greater Albuquerque Associataion of Realtors monthly market statistics.  John Myers is the owner and Qualifying Broker for Myers & Myers Real Estate.

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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 extensive knowledge of the Rio Rancho real estate market allows us to guide our clients intelligently, whether you are looking to buy, sell or invest.

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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
Cell:  505-401-7500
Email:  [email protected]com

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
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Posted in: Blog, Market Statistics, Rio Rancho NM

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« 38% Of Rio Rancho Properties Sold Are Distressed In 2013
Rio Rancho Home Sales Decline By 19% In June 2014 »

Myers & Myers Real Estate, Inc.

John Myers
Qualifying Broker
License #19085

(505) 401-7500
(505) 401-7500
myersandmyersrealestate@gmail.com
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