Santa Fe Inventory Down

Do Santa Fe, New Mexico home sellers know something the Santa Fe home buyers do not know?

Bruce Krasnow, famed real estate columnist for The Santa Fe New Mexican, notes that: “Lower interest rates in Santa Fe have reduced sales inventory as more families refinance and stay put.”

Apparently, many Santa Fe home sellers are taking advantage of five year adjustable rate mortgages, that lower monthly payments now, but with the intent of selling when the market recovers.

Santa Fe home buyers be aware, the Santa Fe home market is very small relative to other US markets. Fewer homes on the market mean fewer buyer choices. The screaming deal phase is dying down with fewer and fewer opportunities. Also be aware Santa Fe home sales rose 10% in the 4th qtr, and rose 2.4% overall, 2011 versus 2010.

Anthony Atwell, Associate Broker, ABR,CRS,ePRO,GREEN   505-670-2177

Serving you Santa Fe Real Estate and Santa Fe Style for 21 Years.

Sotheby’s International Realty

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