Market Moment – Sept 28, 2020
Not wanting to sound like a broken record, but mortgage rates continue to be holding at all time lows of around 3%. Existing home sales are strong with new mortgage application submissions up by 3%.
For the week ending in 9/19, initial jobless claims increased slightly, however, continues claims declined to a level of 12.58 million nationally.
Looking to our local (Albuq greater area), the last week we saw 505 New Listings and 539 New Pending sales. The total number of homes listed in the Greater Albuquerque MLS has fallen to 1473. Buyers are dealing with many challenges due to the very low inventory.
For information about YOUR neighborhood, call, text or email me- no obligation. Let’s talk Real Estate- 505-980-9353.
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