The trend continues as closed real estate transactions are down for the fourth year in a row in the first quarter in Valencia County New Mexico. The latest figures show that in 2010 there were 104 closings, down 8% from 2009, and down 61% from it's peak in 2006 when there were 262 transactions closed during Q1 in Valencia County. When comparing March sales over the past few years you will see similar results with 2010 claiming last place once again with 43 sales compared to 44 in 2009 and 47 in 2008.
As the nation's economy begins to show signs of recovery all eyes in this county look toward similar results. It seems that, after studying the trends in the numbers, that Valencia County may haver reached the "bottom" when it comes to home sales. Steady sales numbers over the past few months are in indicator that things may not get worse. Most Real Estate Professionals in this area have adjusted their approach to reflect the current conditions and are ready for the long haul.
As we move forward, the general feeling is that Valencia County is in need of permanent jobs. The job base in the area in the past few years relied heavily in building trades and industries that revolved around the housing market. As we can plainly see from the current fallout, diversity in our workforce will lead to more sustainable prosperity.
Monday, April 5, 2010
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