Thursday, September 12, 2024
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Las Cruces inventory increased to 780 homes last month and more sellers are putting homes on the market as the fall season officially begins.
This is a 65 percent increase in year-over-year inventory, giving buyers more options as they begin to search for homes. August also witnessed longer times on market with many sellers dropping their asking price at least once in a listing period before securing a contract.
As you drive through neighborhoods, you may have noticed more “for sale” signs, more open house directionals and more incentives being offered by sellers to make an offer on their homes. Sellers should not feel a need to hit a panic button. The market is adjusting itself and the fall months have historically seen slower activity from now through the holidays.
Within a week, you will see news of the first interest rate cut of the year, giving more optimism to those looking to purchase. This month's report brings good news to both buyers and sellers in our growing Las Cruces market. It's still a great time to be a Las Cruces Homeowner. Happy fall, everyone.
