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This month, our Home Value Forecast focuses on a promising market in the southwestern United States. Albuquerque, NM, usually overshadowed by Santa Fe, is seeing positive growth markers in its real estate market, which has larger implications for the entire metro.
Albuquerque’s industrial base includes aerospace, defense, energy technology and computer chip manufacturers. Employment and home prices have been highly correlated since 2011, signaling that price appreciation is being driven by supply and demand market fundamentals.
“To get a better idea of the long-term viability of this metro, we looked at the ratio of median income compared to the mortgage payment needed to purchase an average Albuquerque home,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “While affordability is trending down, we don’t expect to see any troubling signs anytime soon.”
Click here to read the entire report, including data and graphs that further highlight market trends discussed in this release.
About Home Value Forecast
Home Value Forecast (HVF) is brought to you by Pro Teck Valuation Services. HVF provides insight into the current and future state of the U.S. housing market and delivers 14 market snapshot graphs from the top 30 CBSAs.
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