Report: City housing market solid

ALBUQUERQUE (KRQE) - The collapse of the nation's housing market fueled the country's downward economic spiral, but a recent report calls Albuquerque's housing market a safe haven.

A report on Kiplinger.com states that Albuquerque is one of six cities which has managed to keep a below average unemployment and foreclosure rate.

Economists credit government jobs in New Mexico for the fewer number of layoffs.

As for the low number of foreclosures, the Greater Albuquerque Association of Realtors credits careful lending.

"We want to make sure that you have a job, and every realtor knows that they really need to counsel people when it comes to what they can afford," Cathy Olsen of the Greater Albuquerque Association of Realtors said.

The report also said there was good news for those trying to sell their homes. In the past year, the city's housing market had fought the tide by increasing in value by one percent.

This year more than 7,000 homes have been sold in Albuquerque.

Other cities that made the top six include Pittsburg, Lancaster, Pa., Clarksville, Tenn., Johnson City, Tenn., and Burlington, Vt.