Are buyers active in Albuquerque?

Here’s the deal: buyers in Albuquerque are still making offers, with over a thousand homes recently going under contract. However, the pending ratio suggests that homes aren't flying off the market as quickly compared to the total number of homes for sale. This indicates a more measured pace of buyer activity right now. Overall, the market shows a slight cooling trend for buyers. Prices are fairly stable, but homes are taking a bit longer to sell. There are 2,313 active listings, which means buyers have a good selection of homes to choose from. This number of available homes is up 4.8% from the previous year, offering more choices than before. Homes are staying on the market for a median of 67 days, which is a little longer than last year. This means buyers might have more time to look at properties and make decisions without feeling rushed. About 25.6% of homes have had their prices reduced, suggesting that some sellers are adjusting their expectations to attract buyers. This share is slightly down from last year, but still shows that price adjustments are a factor. For buyers, this market means you have more options and potentially more negotiating power than in recent memory. Take your time to find the right home and consider making a well-thought-out offer.