Metropolitan Statistical Area (MSA):
Carlsbad-Artesia, NM is a Metropolitan Statistical Area (MSA) comprising counties including Eddy County.
There is no doubt that the Carlsbad-Artesia, NM metropolitan statistical area (MSA) has been one of the hardest hit areas in terms of the housing market. This is largely due to the fact that the area was built up so rapidly during the housing boom and then experienced a sharp decline when the bubble burst. However, there are signs that things are starting to turn around in this part of New Mexico.
One of the most encouraging trends is that home prices in Carlsbad-Artesia have begun to stabilize. After years of decline, prices finally bottomed out in 2016 and have since remained relatively flat. This is good news for both buyers and sellers, as it gives them a better idea of what their home is worth and makes it easier to negotiate a fair price.
Another positive trend is an increase in sales volume. In 2017, there were nearly 1,400 homes sold in Carlsbad-Artesia, which was up from just over 1,200 in 2016. This uptick indicates that more people are feeling confident about buying a home in the area again and suggests that demand is slowly starting to rebound.
Of course, it's important to keep perspective when considering these trends. The Carlsbad-Artesia housing market still has a long way to go before it returns to its pre-recession levels. However, these latest developments suggest that things are moving in the right direction and offer hope for a bright future for this region of New Mexico