The Wall Street Journal reports that: Moves by government-controlled mortgage firms could drive up cost of borrowing to buy units in resort areas Fannie Mae and Freddie Mac, the government agencies that buy conventional loans, are imposing new standards that could affect loans on condos in resort  areas where there are a lot of vacation…

Demand for homes and condos remains strong. Purchase contracts are taking much monger than normal to close, due to a major backlog at Taos’s two title companies. Therefore, the number of closed sales would be higher if this problem didn’t exist. Condo inventory is very low, and this has been a constraint on sales. Land sales are also lagging last year’s pace.