Metropolitan Statistical Area (MSA):
Gallup, NM is a Metropolitan Statistical Area (MSA) comprising counties including McKinley County.
There are many factors influencing real estate trends in the Gallup, NM metropolitan statistical area (MSA). The area's location near several national parks and monuments, its low cost of living, and its proximity to major cities like Albuquerque and Phoenix make it an attractive place to live. The area's housing market has been strong in recent years, with prices rising steadily. However, there are signs that the market may be slowing down. Sales volume has decreased in recent months, and inventory levels have risen. This could be due to a number of factors, including the end of the "boom" years for the oil and gas industry in New Mexico, which has impacted many areas of the state's economy. Despite these potential challenges, the Gallup MSA remains a desirable place to live and invest in real estate.