87004, Bernalillo, NM

The Bernalillo, NM 87004 zip code has a population of just over 100,000 people and is located in the southwestern part of the state. Home prices in this area have been increasing steadily over the past few years, reaching a peak in 2017 before beginning to decline in 2018. At present, home prices are slightly lower than they were at their peak but remain above where they were several years ago.

One reason that home prices have been rising steadily in the Bernalillo 87004 zip code is that there is a large number of available homes for sale. In addition, many people who live in this area are able to afford to buy homes because of their incomes and savings. However, there are also some risks associated with buying a home in this area. For example, if you are not able to get a mortgage or if your mortgage goes into default, you could lose your home equity investment.

Another factor that has contributed to the increase in home prices in the Bernalillo 87004 zip code is inflationary pressure on housing prices throughout the country. Over time, rising costs of materials and labor will cause housing prices to go up even if there is no increase in demand for homes. This phenomenon has led some economists to refer to recent increases in house prices as "bubbles." If housing values start declining again after bubble-like conditions have prevailed for an extended period of time, it could lead to significant financial losses for homeowners and investors alike.