Jeff Rose is an award-winning commercial and residential realtor that’s been serving the New Mexico community for more than 26 years. He’s been with eXp Realty since 2012.

Rose brokedown thecurrent climate in local real estate in New Mexico. Currently, the real estate market in New Mexico and nationwide is in a transition due to mortgage rates exceeding 6% for the first time in fifteen years. However, at the same time, over 5,000 jobs are projected to be gained in the Albuquerque metro area. This creates a challenge because job growth is increasing while the inventory of available housing for sale and rent is still very low.

Rose says right now, properties are still selling for what they are worth. He also says homes are still selling in less than 30 days if they are market ready or in a desired area. But, they are not seeing multiple offers on properties or over-bidding when mortgage rates were lower.

Another interesting thing to note, Rose says they are seeing when tenants move out of homes landlords are deciding on two things. Should they rent again to capitalize on high rent? Do they sell and take their profits?

Rose says there are still some options in New Mexico’s housing market. He also says Jeff Rose & Associates/ eXp Realty can help you navigate your options and find your perfect home. For more information, visit https://jeffrose.exprealty.com/