Monday, April 29, 2024
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As the first quarter came to a close, the Las Cruces housing market brought a boost in closed sales and closing prices, giving some great optimism for our spring buyer season. Even with interest rates hovering around the 6 percent range, buyers are still snapping up listings, many within a few days after the “for sale” sign is up.
Active inventory is up by 30 percent compared to last year and new listings were up 16 percent from last month. This month's report shows many encouraging signs of stability, competitive pricing and more options for homebuyers, especially many who are entering the market for the first time.
The new home marker is also showing signs of encouragement with builders reporting more new home starts and available inventory for buyers looking to buy new. Expect to see more open house activity, aggressive pricing, buyer incentives and a very busy showcase of homes starting at the end of this month.
This month's report is great news for both buyers and sellers. And yes: It’s a great time to be a Las Cruces homeowner.
