Since bottoming out in 2011, the total market (all categories of property) through 2018 has gained 117% in unit sales, and 164% in dollar sales. Single-family home unit sales are now 20% below the level recorded in 2005. Inadequate inventory of homes for sale is limiting sales. Prices are rising, and homes are selling faster than they used to.
2018 sales are tracking about equal to 2017’s. The main factors that have been affecting the market for the past two years remain in place: a strong national economy, rising demand for single-family homes, and an inventory shortage of good homes available for purchase.
BIG NEWS! New air service this winter between Dallas DFW airport and Taos. See related post in our website. This should have a major positive impact on the Taos economy–and on Taos real estate–over time. Meanwhile, this weekend is the annual Taos Balloon Rally–another way to travel!
Single-family home sales are pacing about equal to last year. Condo, land and commercial sales are all ahead of last year.
Sales of single-family homes and condos were up in July 2018 compared to July 2017. Land sales were down slightly. Through the first seven months of this year, sales of homes are about 1% below last; condos are up 25%; land is up 12%.