Sunday, April 20, 2025
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The spring buyer season is off to an exceptional start in 2025 despite hesitations around demand, the economy, and a cycle of breaking news that may have discouraged some from entering the housing market. This month's report shows all key demand indicators improved in the first quarter of 2025. Our local market currently carries about 4.4 months available, indicating we are still in a steady sellers' market with a small increase in list prices. While the financial market may be seeing a tumble, your property value is still holding strong with a slight increase in price and a short-listing period before going under agreement.
For buyers, the key factor is still high interest rates. If you are entering the market, especially for the first time, you will want to check with your lender regularly on interest rates and lock in when you find it best. Rates have been so volatile over the last few weeks it's important to find the best opportunity for your next loan commitment. Your realtor and lender will work together to keep you ahead of any drops in interest.
Spring is here. It's a great time to take a look at those open houses. All the market indicators are telling us we are in a very strong and resilient real estate landscape and many buyers are still seeing housing as an important and valuable long-term asset. It’s still a great time to be a Las Cruces homeowner.
Steve Montanez is the president and chief executive officer of New Mexico Properties, which provides services to buyers and sellers. He provides monthly updates about the Las Cruces real estate market to the Las Cruces Bulletin.
