City:

Albuquerque, NM

Albuquerque is a city in the state of new-mexico with a population of roughly 527,699. It is in Bernalillo County, New Mexico the Albuquerque, NM core-based statistical areas (CBSA), and the Albuquerque-Santa Fe-Las Vegas, NM combined statistical area (CSA).Its Zip codes include 87105 ,87121 .

The Changing Face of Home Prices in Albuquerque, NM

Real estate in Albuquerque, NM is a hot commodity. The city has seen an influx of people and businesses in recent years, which has led to an increase in demand for housing and commercial space. According to the Albuquerque Journal, the median price of a home in Albuquerque increased by 14% from 2016 to 2017. In addition, the Journal reports that the number of homes sold in Albuquerque last year was double the number of homes sold in 2015.

One reason for this increase in real estate prices is that Albuquerque is experiencing a population boom. The city's population grew by more than 10% between 2010 and 2016, making it one of the fastest-growing cities in the United States. This growth has led to increased demand for housing and commercial space, which has driven up prices across all sectors of the market.

Another factor contributing to rising real estate prices is the strong economy currently enjoyed by Albuquerque. The city's unemployment rate was 3% as of May 2018, well below the national average of 4%. Additionally, wages are increasing rapidly here, which means that people can afford more expensive homes without having to sacrifice other important aspects of their lives.

Despite these positive factors, there are also some challenges facing real estate markets throughout America today. One such challenge is affordability – particularly for low- and middle-income families who may not be able to afford high-priced homes on their own incomes alone. Another issue facing many markets today is rising interest rates – which make it harder for people who want to borrow money to buy a home or invest in property securities.

Price Index: Albuquerque, NM

Zip codes in Albuquerque

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