Pending home sales remain strong in August
Albuquerque, NM, September 10, 2012 – Pending sales for single-family detached homes in the Greater Albuquerque real estate market were 16.97% higher than the same month the previous year, according to the Greater Albuquerque Association of REALTORS®. This is the third consecutive month and fifth time this year that pending sales exceeded 1,000.
There were 731 closed sales of detached homes in August, a 13.16% increase over the same month the prior year. This number of 731 closed sales of detached homes was also up from the previous month of July 2012, which reported 719.
“August’s strong finish is a good end to the summer months”, said Marc Guggino, 2012 GAAR President, “This is the most closed sales of detached homes in the month of August since 2007.” “With pending sales of homes staying strong, the signs all point to consumers re-entering the market place,” he stated.
To see the full report for August market statistics go to GAAR.com and click on Market Statistics.
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.