Thursday, August 12, 2010

Real Estate & Income

Farmington ranked 11th on the national list of top losers in median home prices for the second quarter of 2010 as compared to a year earlier. Median home prices dropped 7.3% in Farmington for the year, according to the National Association of Home Builders and as reported by the Wall Street Journal.
For July in Albuquerque, the median detached single family home price, $186,000, was the highest since August 2009, says the Greater Albuquerque Association of Realtors. July's average price, $230,213, was the highest since August 2008.
Lest one get too excited, metro Albuquerque showed 557 closed sales during July, down 23% from June, reflecting the end of the first-time buyer tax credit.
Per capita income in Albuquerque was $35,415 for 2008, according to figures released this week by the Bureau of Economic Analysis. That was a 2.3%, or $811, gain from 2007.

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