Ledes from the Land of Enchantment

Housing market getting closer to normal

By Steve Montanez, for the Bulletin

The Las Cruces real estate market showed signs of stability in December 2022, with homes still closing at an increased sale price over the prior year.

While activity was significantly down compared to prior year’s, December’s activity is back to what Las Cruces would normally see during the holiday months.

Homebuyers are now seeing the return of price drops and seller incentives in efforts to stay competitive with increased inventory. The year is starting with a drop in interest rates and more listings on the market, giving buyers more options, more negotiating ability and lower monthly payment projections. The market is showing great signs for buyers while holding strong closing prices for sellers in southern New Mexico.

Happy New Year Las Cruces! It’s a great time to be a homeowner.

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