By Stephanie Guzman, Reporter at Albuquerque Business First:
For years, Albuquerque was looked over by the Urban Land Institute in the organization's annual Emerging Trends in Real Estate report and its well-known red-yellow-green dots, a color coded map of cities that signal health in real estate.
Then, once Albuquerque got on the map, it received a red dot. And last year yellow. Both showing the Duke City's real estate market wasn't super healthy.
But for the first time, Albuquerque has landed ULI's elusive green dot.
The latest ULI report released this week, is the result of surveys conducted with 1,465 people related to the real estate industry. More than half are either private property owners, developers, or those working in real estate firms. Other participants include real estate investors, investment managers, lenders and homebuilders.
Those participants ranked Albuquerque green or "generally good" in three categories — investment, development and homebuilding. Of 75 cities listed as markets to watch, Albuquerque was ranked 49th.
Albuquerque finally landed among other U.S. and Canadian cities with green dots — indeed many other cities that were ranked yellow last year also moved up to green.
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