October Report shows small rebound for Las Cruces Real Estate

After a sluggish report last month, This month's report is showing a few signs of recovery and even encouragement for those looking to put their home on the market in the fall months.   Slowing home price growth, builder incentives, rising inventory and easing mortgage rates are giving buyers more options and purchasing power. Yet, despite this advantage, many buyers tend to put homeownership on hold until after the holiday season.

This does not mean a home can't sell. We are still seeing good buyer activity in Southern New Mexico.  As rates start to fall and the fed anticipates two more rate cuts before the year's end, many buyers are keeping an eye on interest rates, incentives, and some great deals being offered both by new home builders and resale incentives.   With resale inventory on the rise,  pricing your home is key.  Talk to your Real Estate professional and make sure you are given detailed activity in your area before pricing your home.   This is also a good time to consider a fall declutter to ensure your home shows well online and during showings.  This report shows homes at just under 50 days before going under contract, this is a direct effect of overpricing your home at the beginning of your listing period.   Buyers entering the market this time of year are very serious, and many have a goal of closing before the end of the year. Sellers have the same goal to sell at this time.   This is a great time to make a deal.  

Our market still continues to hold strong, there are many factors pointing to a stronger finish to the year. It's a great time to start planning.  It's a great time to enjoy the cooler temperatures and beautiful fall sunsets.  It's a great time to be a Las Cruces Homeowner.