Española, NM

There are many factors influencing real estate trends in the Española, NM metropolitan statistical area (MSA). The most significant factor is population growth. According to the U.S. Census Bureau, the population of Española grew by 5.8% between 2010 and 2018. This population growth is driving demand for housing, which is pushing up prices and causing a shortage of available homes for sale.

Another factor influencing real estate trends in the Española MSA is the economy. The unemployment rate in Española was 4.7% in December 2019, down from 6.4% a year earlier and below the national average of 3.5%. This improving economic conditions are making it easier for people to buy homes. Additionally, low interest rates are making it cheaper to finance a home purchase.

Finally, there are limited land resources available for new construction in the Española MSA. This lack of buildable land is limiting supply and putting upward pressure on prices.

Overall, these factors are causing strong demand for housing in the Española MSA, which is leading to rising prices and a shortage of available homes for sale