NM: Albuquerque…still hot?
Albuquerque, at the moment, can scoff at the idea of a real estate slow down. There appears to still be some sizzle in this particular market. True, prices have gone up in recent years, but in moderation. For example, mean prices appreciated no more than 5% a year between 2000 and 2004. The current median home price is $215,000.
Many industry watchers see Albuquerque as a small, but growing market. In fact, Forbes put Albuquerque at the top of its list of the “Best Places for Business and Careers” in 2006, while Kiplinger’s considers it to be the third “smartest” place to live in the county. Slow and steady appears to be their formula as they ride the front end of this current rolling real estate boom.