The economy is steadily getting stronger and consumers are feeling better than they have in quite some time about their prospects.  At the same time, the Federal Reserve is continuing to keep interest rates at their low current levels. And finally,  the Housing Finance Agency’s monthly home price index recently showed a two percent increase in the Western states (i.e. New Mexico) and an average nationally adjusted gain of seven tenths of a percent, all positive indicators of an improving economy.

Additionally, the usually relatively negative Standard and Poors Case Shiller index also reported a rise in 14 of 20 major markets it tracks. This report represented the sixth consecutive month of price increases. 

The mortgage industry is also reporting good news for potential home buyers. Rates ranging in the 4.5% range (at least in the Santa Fe area) are being offered by the lenders we know in town, and they believe that this trend will continue for quite some time.

What does this all mean to the Santa Fe Home buyer? In our opinion…it’s a great time to buy.  The signs of a nationwide financial turnaround combined with relatively low home prices and historically low financing make home buying a better option than it has been in the past 30 + years. There are loads of great properties on the market in Santa Fe, and most seller’s have come to terms with the fact that their property values have taken a bit of a hit, resulting in competitively priced houses.

So if you’re in the market to buy in Santa Fe, give us a call!

Contact Ryan Bolton and Matt Desmond

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