Saturday, December 16, 2006

Las Cruces Housing Market

For about a decade, Las Cruces has been an extremely attractive place to move to -- housing costs were significantly below the national average and the climate and natural beauty made this area a wonderful place to live.

As a result, a lot of people have moved here.

And they have driven up housing prices enormously.

Here's the Real Estate Industry data for the average selling price of a house in Las Cruces for the last 6 years:

2001 - $126,000
2002 - $134,000
2003 - $143,000
2004 - $168,000
2005 - $199,000
2006 - $216,000 (10 month average)

As you can see, the average cost of a house has increased by $90,000 since 2001.

This rapid run-up in prices has caused a lot of disquiet in long-term Crucens. The cost of living is going up, traffic is getting worse, and resource demand is growing exponentially.

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