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The Wall Street Journal reported recently that for the year ended March 31, US home prices had the highest increase — 13.2% — since December 2005. The article also noted that the US Commerce Dept. said that the median price of new homes sold in April was up 20.1% from a year ago; this was…
Market activity–especially for homes and condos–is intense: multiple offers are common, with buyers often offering above asking price. This sort of market behavior has rarely occurred in Taos, even during the boom years of 2000 – 2007. Spurred by the work-from-home paradigm that the Covid-19 pandemic created, and fueled by interest rates that remain extremely low, robust demand for homes and condos in Taos is expected to continue into the foreseeable future. Even multi-family sales–a very small segment of the market–have picked up some. Land sales are way up vs. last year, as some frustrated home buyers are deciding to build instead of searching in vain for an existing home to buy. Commercial sales are still zero for the year through July.
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