In an Albuquerque Business First article earlier this February, it was reported that Albuquerque is on the National Association of Home Builders “much-watched” list referred to as the First American Improving Markets Index for the first time. This suggests home building is improving for the Albuquerque area, which is great news for custom home builders like us at Lee Michael Homes and great for business overall in New Mexico.
The index ranked the Albuquerque area No. 158 out of 259 metropolitan areas classified as improving out of the total 361 metro areas it tracks.
The greater Albuquerque market saw about a 20 percent increase in housing permits for 2012 as compared to 2011.
For more detailed information on the report, see: ABQ Lands on Index of Improving Housing Markets for First Time