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By Organ Mountain News on

Las Cruces housing inventory rises in weekly market snapshot

A New Mexico Construction Alliance market snapshot shows Las Cruces active listings rose from June 2 to June 9, with fewer homes under contract.

Real Estate Local News
Las Cruces housing inventory rises in weekly market snapshot
A weekly market snapshot distributed by the New Mexico Construction Alliance shows active housing inventory rose in Las Cruces from June 2 to June 9. (Tierra Mallorca / Unsplash)

The June 9 report distributed by the New Mexico Construction Alliance shows active listings up from June 2, while under-contract homes dipped slightly.

Organ Mountain News report

LAS CRUCES - Active housing inventory in Las Cruces rose this week, while the number of homes under contract dipped slightly, according to a weekly market snapshot distributed by the New Mexico Construction Alliance.

The June 9 report showed 796 active listings, up from 756 on June 2. Available site-built homes rose from 724 to 762 during the same period.

The number of homes under contract fell from 330 to 317, a decrease of 13.

The snapshot also showed an increase in newer homes on the market. Homes listed as new to one year rose from 122 to 148, while condos rose from 15 to 16 and manufactured homes rose from 32 to 34. Townhouses dipped from 19 to 18.

The absorption rate, a measure used in real estate to compare the pace of sales with available inventory, increased slightly from 4.94 to 5.01.

The report described the Las Cruces market as steady, with strong buyer activity and slightly higher inventory. It also said well-priced homes continue to move.

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