New Mexico

Local Housing Market · Zillow ZHVI · September 2026

$315,812

Typical Home Value

▲ 1.7% YoY ▼ 0.02% MoM

7.40%

30Y Mortgage Rate

PMMS · Oct 15, 2026

121bps

YoY Rate Change

▲ Higher than 1yr ago

230bps

30Y/10Y Spread

Norm ~170bps

🏘 New Mexico Home Values

Zillow Home Value Index (ZHVI)

Zillow

Typical Home Value

$315,812

▲ 1.7% YoY

Month-over-Month

▼ 0.02% MoM

September 2026

Data Period

September 2026

Updated monthly

Zillow ZHVI · State-level · Smoothed, seasonally adjusted · Updated monthly

📊 National Mortgage Rates

Current Mortgage Rates

Freddie Mac PMMS

30Y Fixed

7.40%

PMMS · Oct 15, 2026

15Y Fixed

6.71%

PMMS · Oct 15, 2026

1yr Ago 30Y

6.19%

▲ Rates higher now

30Y/10Y Spread

230bps

Normal · 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 · September 2026

• Inventory is up 7.7% YoY and listing prices are flat 0.1% YoY with 21.5% of listings carrying a price cut. Pricing is stable — comps should be reliable.

• Homes are selling in a median 80 days — a slower market. Pending ratio is 0.35 — moderate demand, purchase timelines are manageable.

• New listings are roughly flat 0.8% YoY. Seller activity is stable.

Median Listing Price

$399,475

▼ 0.1% YoY

Median Days on Market

80d

0d YoY

Active Listings

7,322

▲ 7.7% YoY

New Listings

2,018

▼ 0.8% YoY

Price Reduced Share

21.5%

of active listings

Pending Ratio

0.35

pending ÷ active

Realtor.com Research · State-level inventory data · Updated monthly

Hottest Markets in New Mexico

REALTOR.COM

Top metros by national hotness rank (supply + demand composite) · September 2026

Albuquerque

▼ COOLING

National rank #176

Median Price

$417,700

Median DOM

61d

Demand score 48/100

Santa Fe

▼ COOLING

National rank #201

Median Price

$799,000

Median DOM

72d

Demand score 52/100

Las Cruces

▼ COOLING

National rank #296

Median Price

$374,950

Median DOM

92d

Demand score 9/100

Realtor.com Hotness Index · Metro-level · Higher demand score = more buyer activity relative to supply