While many areas of the country are seeing a slow down or leveling off in home sales, New Mexico’s housing market continues to set records.

“2,921 sales were reported to the New Mexico Association of REALTORS (NMAR) for the month of October, 2018,” according to Connie Hettinga, NMAR President. “In previous years, October sales numbers generally show a slow-down from those reported in September, however October 2018’s numbers are over 200 sales higher than those reported in September 2018.”

October’s numbers bring the 2018 year-to-date total sales to 26,982 – over 4,500 sales more than those reported for all of 2017.

Steven Anaya, NMAR CEO, reports “Median prices have leveled off. The October median of $200,554 is only $1500 higher than the September 2018 median while the year-to-date median has been $200,000 for five consecutive months.” Median price indicates that half the properties sold for a higher price and half sold for a lower price.

In presentations on the national market during the National Association of REALTORS’s (NAR’s) recent annual conference, student loan debt remains one of the biggest factors in a potential buyers’ roadblocks to buying a home. NAR research shows 26% of all buyers and 41% of first time buyers have student loan debt.

Overall, the economy has been performing well which helps fuel home sales. “We see this in New Mexico in areas such as Los Alamos County where LANL is hiring; properties are going quickly with an average of only 26 days-on-market,” adds Hettinga. “Nine New Mexico counties report an average days-on-market at or below the October statewide average of 75 days.”

The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.

Visit here for county by county reports.