April Home Sales Up 10%

Metro Albuquerque sales of single family detached homes continue to show a year-over-year increase. The other news is that interest rates are going up, which is expected to slow sales nationally. How much slowing? No idea.
In Albuquerque closed sales for April were 1,089 homes, a 10.3%, or 102 home, growth from April 2017 but just a tiny 23 home increase from 1,066 closed sales during March.
Pending sales for April—1,358 homes—were up a nice 15.6% from 1,175 in April 2017, but actually dropped six units from March.
The homes sold in an average of 47 days, four days faster than during April 2017 and six days faster than during March.
On a year-over-year comparison, prices continued the upward march. The median sales price during April was $205,000, a 5.1% hike, or $10,000, from March 2017. The $205,000 median price was $7,000 ahead of March.
The story of the April average prices, $242,037, is more complex. The average price was up from April 2017 by 2.5%, or $5,799. But it dropped a tiny bit—$495—from $242,532 in March.
The inventory of homes for sale, 2,808 during April, increased 168 homes from March, but was down 17.1% from 3,389 during April 2018.