New Mexico housing demand remains strong

Portales News Tribune recently reported that the local housing market is outperforming the national housing market. Wanda Graham of Kiva Realty in Portales told the news source that Curry and Roosevelt counties in New Mexico are seeing less foreclosures and more home purchases than the rest of the country.

Troy Hinton of Portales Home Spot,director of manufactured homes, told the news source that the local economy is strong, reporting a 10 percent increase in sales of manufactured homes in 2010, and a projected 20 percent increase by the end of 2011. While low mortgage rates are helping people buy homes, the rental market continues to boom, Hinton and Graham added.

Similarly, The Metro-West Daily News recently reported that local demand for rentals has outpaced home sales. Rhonda Gidney, owner and president of Metro-West Realty and Property Management, told the news source that the Mendon, Ohio, rental market is up and down due to the rocky economy. Gidney believes renting is ideal for uncertain buyers and older people without children, but the low housing prices are perfect for those in a stable financial situation.

"If you're young, and you've got a stable job that you know is going to be there for a while, it's probably to your advantage to buy something," Gidney told the news source.  

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