[REGIONAL NEWS] Home values heating up in New Mexico

Santa Fe, New Mexico/ Jimack / Shutterstock

At a time of low mortgage rates, see if homes in the Land of Enchantment are a good deal

By Doug Whiteman | MoneyWise

Thanks to low mortgage rates, it’s an excellent time to buy or sell a home across the U.S. But what about in New Mexico?

Is the state’s housing market too pricey for buyers? Not-so-great if you’ve got a home you want to sell? Or just right — for everybody?

Home values provide some answers. They indicate that the market in New Mexico is heating up, according to Zillow, though you might find vast differences from one city or one corner of the state to the next.

Current home values in New Mexico have been rising throughout New Mexico and are up 4.13% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $196,800, Zillow says.

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