Through three quarters, 2026 has been a slow year, as mounting concerns about the war in the Middle East, interest rates and the economy, consumer prices, and artificial intelligence have de-motivated people from investing in real estate. Single-family home sales are up slightly, but prices are flat. Condos and land sales are down, both in number and in price.
For the first 6 months 2026 vs. 2025, the number of sales of Single-family Homes is up; Condos and Land sales are down; Multi-family housing and Commercial sales are about the same (practically nil). The market is slow.
Single-Family Home sales continued the uptrend that started in 2025 (after declines in 2023 and 2024). Condo sales have been in a downtrend since 2022. Land sales continue to fall as high building costs are making home building less attractive. Multi-family sales are nil through Q1 (same as last year), as investors for this type of property are impacted by higher interest rates. Commercial investments are likewise negatively affected by interest rates, as well as by concerns about the strength of the economy.
For the year, the number of sales of Single-family Homes were up; the rest of the market (Condos, Multi-family, Land, and Commercial were all down. With uncertainty and anxiety pervading the news, many potential buyers were putting real estate investments on hold.
The market continues to follow the same pattern, with gains in sales for single-family home sales, flat condo sales, and declines in multi-family, land and commercial. People are not as motivated to invest in real estate as they were a few years ago.
The anticipated upturn in 2025 for the Taos real estate market doesn’t seem to be happening. Although Single-family home sales are up, condo sales are flat, and Land and Commercial are down sharply. The outlook for the rest of the year is cloudy…
2024 may have been the bottom of the downturn that began after the market peaked in late 2022. However, mounting concerns about the economy may have a deleterious effect on the real estate market this year. We’ll get a better sense of the market direction after the second quarter…
For the full year 2024, the number of sales of Single-Family Homes, Condos and Land were all below last year’s pace. The small market segments of Multi-Family and Commercial were both up. The market has cooled off a lot from the frothy times of 2020-2022.
Through the first nine months of 2024, the number of sales of Single-family Homes, Condos and Land are all down compared to 2023 for the same time frame. The market deceleration that began in 2023 following the 2020-2022 super-hot market has continued. House prices that are 40% or more higher than than they were four years ago, interest rates 3-4% more than what people had got used to, preoccupation with the November elections, and concerns about the economy, increasing government debt and the tense geopolitical situation, have all combined to dampen interest in real estate.
The slowdown that began in 2023 has continued into 2024. After explosive growth from mid-2020 through 2022—which was fueled by ultra-low interest rates and the Covid pandemic shift to work from anywhere—the market has decelerated. The market had got so hot that some pullback was inevitable. Several factors have conspired to dampen buyer enthusiasm for real estate. Read the full report to understand what’s going on in the market.