Just Before the 'Fall'

Albuquerque's market was just beginning to cool off in the middle of last year. And, we were a few months from the financial markets melt down. So, looking at year-to-year for the 2nd quarter is interesting. It provides a pretty clear picture of the damage to our market caused by national events. All of the following compare April-June of 2008 vs. 2007:

• Average price: (3.09%)
• Sold properties: (27.83%)
• New listings: (25.67%)
• Days on Market: 71.79%

So, everything is negative but one -- Average Days on Market. But what remains remarkable to me is that in the current horrible national environment, Albuquerque performed the way it always has and avoided the excesses so apparent in other areas. (Would anyone like to try and sell a house in Phoenix?)