Albuquerque Home Sales and Prices Show Annual Growth

Data from the Greater Albuquerque Association of Realtors (GAAR) shows that home sales in the Duke City ended 2013 on a strong note, with December sales rising 8% year-over-year. During 2013, every month showed annual gains in terms of closed sales. Single-family sales prices also increased from a year earlier, with the average price rising 4% to $220,000 and the median price jumping 9% to $185,000.

On a similar note, the interest rate for a 30-year mortgage grew 34% to 4.48%. John Kynor, president of GAAR explained the increases: “Buyers are watching interest rates slowly tick upward and are making moves. Early numbers show that 2013 may be the biggest year of sales since 2007.”

Read more at Albuquerque Business First