In a month that was one of the hottest on record with average high temperatures of 95.4°F, the area real estate market was heating up as well. June presented increases in both pendings, and closed transactions as well as a large scale decrease in the number of homes on the market (year over year). These are positive signs that real estate is heating up around the Albuquerque and Rio Rancho areas this summer.
Here are some of the highlights of June's activity:
- Active Detached Listings - 4,091 -18.91% (June 2011 5,008)
- Pending Sales - 1,047 +12.10% (June 2011 934)
- Closed Sales - 685 +4.10% (June 2011 658)