GAAR sees home sales improvement - New Mexico Business Weekly:

http://karooinfo.com/2ki05.htm
For the third consecutive month, existing homes were spending feweer days, 85, on the market and prices have reachec their highest level sinceOctober 2008. Average homezs sales peaked in May 2007 at slightlyabove $260,000 and now the mediam (half above, half below) sales price in the metro regiob is $222,000. The 566 closed sales in May representera 4.4 percent increase over April’ s performance, but a 16 percenyt drop compared to May 2008. There were 1,472 new listings in a nearly 25 percent decline compareed to ayear ago. The supply/demancd ratio is another encouraging sign, standintg at just 6.31 in May. That ratio peaked in November at 12.09.
The ratiol measures pending sales against the total number of homes on the The higherthe supply/demand ratio, the more supplyu there is relative to “Rio Rancho has the largest of available new homes on the market, drawingg the attention of first-time buyers who are takin g advantage of the $8,000 income tax Padilla said. “Overall, the Albuquerque metro housing markett continues to outpace other markets nationally in salesa and June is expected to be one of the strongesg monthsin 2009.
”