Albuquerque Unemployment Rate Drops

Another indication that our real estate market suffers more from perception than reality.

Unemployment for the state dropped to 3.5% in April -- down from 3.8% in March and also less than the 3.6% of April '07. The national average was 5.0% for April.

Albuquerque, at 3.5%, tied with the state figure. By far the most job growth was seen in the education and health services sector - a solid 3% during the last 12 months.

A Greener Albuquerque

Hey -- who says the desert is mostly shades of brown :)? Albuquerque became the first city to sign a pledge to build a green economy.
The pledge commits the city to focus on 'green-collar' jobs: those contributing to preserving or enhancing environmental quality.

Foreclosures

Another illustration of perception vs. reality. Foreclosures remain one of the driving forces in real estate markets all over the country. RealtyTrac's April report notes that filings were up 65% over April of '07.
New Mexico, however, remains relatively immune. We rank 37th in the nation. Worst hit: Nevada, California and Arizona.

Help with Mortgages

New Mexico has far fewer problems with foreclosures than most states. But, for those needing help and assistance, there is a new program to offer counseling. The hotline will be set up soon and will run through September. The number is: 888-995-4673.