Albuquerque Home Sales, Prices Up in May

Home prices rose in nearly all major U.S. cities in April from March, further evidence of a housing market that is slowly improving even while the job market continues to slump.

Case-Shiller measures no New Mexico cities, but local data show median price increases statewide and in the Albuquerque area. In the Albuquerque metro area, which saw home sales increase last month, the median sales price for those homes was $175,000, up slightly from $174,775 the month before and well above the $165,000 in May 2011, the Greater Albuquerque Association of Realtors reported.

Statewide, which also saw home sales increase last month, the Realtors Association of New Mexico said the median price rose to $170,000, 3 percent higher than the median reported in May last year.

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Full Story from the Albuquerque Journal

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