Mortgage rates are dropping — What it means for Albuquerque homeowners and homebuyers

Homeownership is more than just a lofty American dream — it’s how many can build generational wealth. For the Black community, 90% of wealth gains come from homeownership, meaning that owning a home continues to be a crucial method for Black households to build and accumulate wealth.

And while the Albuquerque housing market has been very competitive — with home prices up 3.1% year-over-year in August 2024, according to Redfin, homebuyers who have been waiting on the sidelines for prices…
Source: The Business Journal