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A recent article in The Wall Street Journal discussed how prices are rising at the fastest pace in 15 years.  This is the result of the fundamental of supply and demand. There has been a surge in demand, driven by several factors: ultra-low mortgage rates, a lot of millennial buyers entering the market, and he Covid-19 pandemic creating a need for more space for urban dwellers to work remotely.  Construction of new housing has not kept up with demand.  As a result, fierce competition among buyers is driving up prices in a “super seller’s market.”  This is a nationwide phenomenon, and it certainly is true in Taos.  Inventory here is extremely low.  Some buyers have tried multiple times to buy a home, only to lose out in bidding wars.

Read the complete article at:

https://www.wsj.com/articles/u-s-home-price-growth-accelerated-in-january-11617109259?st=jyrwiq06zlon0zd&reflink=article_email_share

 

buying, home sales, housing inventory, housing market, interest rates, mortgages, sellers, Taos real estate Daily Real Estate News 1 Minute Read (0)

Contact The Lora Company

225 Kit Carson Road
Taos, NM 87571
Click for Google Maps
ph. 575.758.3275
fax 575.758.5724

Peter A. Lora
NM License No. 17543
peter@theloraco.com
ph. 575.770.7243

Maria Figliolia
NM License No. 42734
mariafig@newmex.com
ph. 575-779-0285

Sanjay Poovadan
NM License No. 45362
sanjay@taosrealestatepartners.com
cell. 575-779-1021

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The Lora Company

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225 Kit Carson Road - Taos, NM 87571
575.758.3275