Note: The data in The Lora Company report do not include Angel Fire, Eagle Nest, Red River and other areas that are in the Taos County Association of Realtors MLS, but that we don’t consider part of the main Taos market. May closed sales were down sharply, due to the Covid-19 health emergency and restrictions…
Note: The data in The Lora Company report do not include Angel Fire, Eagle Nest, Red River and other areas that are in the Taos County Association of Realtors MLS, but that we don’t consider part of the main Taos market. For the first four months of the year: Total market (all categories of property)…
While buyer demand has softened and sales (for the entire U.S.) fell 8.5% in March, the supply of homes on the market is contracting even faster. An article in The Wall Street Journal Online dated May 5 discusses how although the Covid-19 health emergency is causing a drop in buyers venturing out to look at…
Through the first quarter this year, the market is UP compared to the first three months of last year. However, year-to-date sales mostly originated before the coronavirus emergency really took hold; and it remains to be seen what effect the pandemic will have on sales during the second and third quarters.
It’s too early in the year to discern any trends in the Taos real estate market. Logic would suggest that the Covid-19 pandemic will have a negative effect on the market. The impact on the US economy will be severe, and this will dampen demand for vacation and second homes in the short term. However, in the long run, the pandemic may actually increase demand, as people seek a good place to escape to should another pandemic or other emergency arise.