NAR Survey Reports Rise in Vacation Home Sales Across the Country, Ruidoso New Mexico is No Exception

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A recently released NAR survey reports that vacation home sales are on the rise. Vacation and second home areas like Ruidoso, New Mexico are attracting more and more homebuyers.

Vacation home sales rose in 2009, according to a recently released survey from the National Association of Realtors (NAR). Their 2010 Investment and Vacation Home Buyers Survey shows that sales rose by 7.9 percent in 2009, increasing to 553,000 from 2008’s 513,000. The vacation home median transaction price also increased from $150,000 in 2008 to $169,000 in 2009.

“While the NAR survey is a broad countrywide survey that may not reflect local trends,” says Ruidoso real estate specialist Rhonda Albers, “if you take a look at the market for Ruidoso homes for sale, you’ll see that while the number of homes sold were down in 2009, our market held well compared to other markets. This indicates that homebuyers continue to express an interest in owning a second home in Ruidoso.” Albers also notes that the Ruidoso real estate market saw increased interest in the fourth quarter of 2009.

Known as the “Year Round Playground of the Southwest,” Ruidoso is a mountain resort community located on the lower eastern slopes of the Sierra Blanca mountain range. Situated in Lincoln County, New Mexico, it is surrounded by the Lincoln National Forest, making it a haven for outdoors enthusiasts. Ruidoso is also famous for its proximity to the Ruidoso Downs racetrack, which hosts the All American Futurity race, the richest American Quarter Horse race in the world.

“Ruidoso truly lives up to its nickname of being a ‘year-round playground,’” says Albers. “If you come here in the winter, you can ski at Ski Apache, the premier ski resort in New Mexico. In the warmer months, you can enjoy golfing, hiking, biking, horseback riding, hunting, and fishing. And no matter what time of the year it is, the views here are always spectacular.”

Based on data from Zillow, the median home price in Ruidoso has increased by 2.2 percent on a year-over-year basis from 2006 to March 2010. The market here is dominated mostly by second and vacation homes and the rising numbers indicate that these properties are increasingly attracting the interest of homebuyers.

“According to the NAR survey,” says Albers, “three out of four of the second-home buyers in 2009 were married couples, while the typical vacation-home buyer was 46 years old. We have been seeing the same trends here in Ruidoso, with many of our homebuyers near or at retirement age. We are also starting to see second-home owners upgrade to full-time residents as they begin to relax and enjoy life.”

Albers, a licensed Realtor since 1999, has been specializing in properties in Ruidoso, Alto and Nogal for more than ten years. More in-depth information on the Ruidoso real estate market can be found on her website.

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Rhonda K. Albers

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