Report: Santa Fe has more affordable housing

February 27, 2012 • State News

SANTE FE, N.M. (AP) — A report by a real estate group says the recession has made housing in [auth] Santa Fe more affordable.

The Santa Fe New Mexican reports ( that study by the Santa Fe Association of Realtors says the recession caused the median price of reported real-estate sales to drop from an all-time high of $425,000 in 2007 to $330,000 for the third quarter of 2011.

The report says market rates have fallen for homeowners’ investments, but that there are a large number of affordable homes in Santa Fe.

The study also says that even though there is little residential building under way in Santa Fe, nonprofits have been able to pull together funding from federal sources, grants and tax credits to increase the number of affordable-housing units.

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