Albuquerque Houseing Market

Signs are all around us now that Albuquerque housing market has begun to slow. There are currently a daily average of 4600 homes on the market at any given time up 1400 from 3 months ago. Although some areas are slower than others, the recent rains we have had; have out of state home buyers rethinking about buying in Belen and Rio Rancho, and reconsidering such areas as four hills, and parts of the NE heights. Although I see this as a temporary slowdown the fact remains it is taking on average about 45-50 days to sell the average home another hike in the gas prices, and rise in interest rates the first time home buyer has to consider if they can afford a home or even a townhome condaminium for that matter.