Is buying property in New Mexico a good investment?
As New Mexico’s economic and business hub, it’s a desirable location for investors. The cost of living is low and the real estate prices are affordable. Albuquerque also offers a wonderful quality of life driving plenty of people to live in this area.
Are home prices dropping in New Mexico?
On Realtor.com, the median listing home price in Albuquerque, NM was $324K in April 2022, trending up 15.7% year-over-year.
Why is land so cheap in New Mexico?
Property taxes in New Mexico are relatively cheaper compared to surrounding states, and the land has low development costs. Thanks to low average tree height and density of vegetation, many ranches don’t need to put forth much in terms of infrastructure development.