For the third month in a row closed residential sales were fairly strong in Valencia County. Total closed sales in Valencia County for residential homes for Belen, Los Lunas, Bosque Farms, Peralta and the balance of the county was 55 in the month of November. That is up from 32 in November 2008. Part of the reason the county had stronger sales numbers for September, October, and November this year is due to the crunch to get closed before the end of November to qualify for the first time buyer credit, which ended up being irrellivant since that program has been expanded and extended until mid 2010. I anticipate that this will have same type of affect early next year.
All things considered 2009 will not be an outstanding year for closed transactions in Valencia County, however, it seems we have bottomed out in volume and possibly price. Most likely we will end up with less closings than 2008.
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