New Mexico
Local Housing Market · Zillow ZHVI · July 2026
$320,106
Typical Home Value
▲ 1.5% YoY ▲ 0.05% MoM
6.65%
30Y Mortgage Rate
PMMS · Aug 20, 2026
9bps
YoY Rate Change
▲ Higher than 1yr ago
195bps
30Y/10Y Spread
Norm ~170bps
🏘 New Mexico Home Values
Zillow Home Value Index (ZHVI)
ZillowTypical Home Value
$320,106
▲ 1.5% YoY
Month-over-Month
▲ 0.05% MoM
July 2026
Data Period
July 2026
Updated monthly
Zillow ZHVI · State-level · Smoothed, seasonally adjusted · Updated monthly
📊 National Mortgage Rates
Current Mortgage Rates
Freddie Mac PMMS30Y Fixed
6.65%
PMMS · Aug 20, 2026
15Y Fixed
5.95%
PMMS · Aug 20, 2026
1yr Ago 30Y
6.56%
▲ Rates higher now
30Y/10Y Spread
195bps
Tight · norm ~170bps
Freddie Mac PMMS via FRED · National rates · State-specific rates may vary slightly
📋 Realtor.com Market Data · New Mexico
Market Indicators
REALTOR.COM🏦 LO Market Signal · July 2026
• Inventory is up 4.1% YoY and listing prices are softening 1.3% YoY with 18.7% of listings carrying a price cut. Appraisal risk is lower, but watch for value gaps on pending deals.
• Homes are selling in a median 69 days — a slower market. Pending ratio is 0.38 — moderate demand, purchase timelines are manageable.
• New listings are declining 2.5% YoY. Fewer new listings may constrain purchase pipeline — focus on pre-approvals to capture demand early.
Median Listing Price
$405,763
▼ 1.3% YoY
Median Days on Market
69d
0d YoY
Active Listings
7,050
▲ 4.1% YoY
New Listings
2,222
▼ 2.5% YoY
Price Reduced Share
18.7%
of active listings
Pending Ratio
0.38
pending ÷ active
Realtor.com Research · State-level inventory data · Updated monthly
Hottest Markets in New Mexico
REALTOR.COMTop metros by national hotness rank (supply + demand composite) · July 2026
Albuquerque
▼ COOLING
National rank #179
Median Price
$418,600
Median DOM
59d
Demand score 46/100
Santa Fe
▼ COOLING
National rank #188
Median Price
$808,475
Median DOM
65d
Demand score 53/100
Las Cruces
▼ COOLING
National rank #295
Median Price
$377,487
Median DOM
86d
Demand score 11/100
Realtor.com Hotness Index · Metro-level · Higher demand score = more buyer activity relative to supply