The hikes and falls and spasms that describe various moments in the real-estate industry during the last five years make market analyses and predictions in “the old days” seem like child’s play. It’s no wonder that experienced professionals like Cate Adams (in the Santa Fe office of Sotheby’s International Realty) find themselves relying on one simple statement when asked why Santa Fe is taking so long to recover from the crash: “I don’t know.”
The fourth-quarter report from the Santa Fe Association of Realtors says both sales volume and home prices “were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs.”
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