ContentsMarket Inventory 2New Listings 3Pending Sales 4Closed Sales 5Closed Sales by Market Area 6Closed Sales by Price & Days on Market by Price 7 Home Sales Prices 8Days on Market 8Supply-Demand Ratio 9 Absorption Rate 9Market Overview 10 Market Comparison 11Sales by Area (color chart) 12

April 2009 Monthly Market Report

Monthly Highlights• Pending Sales for detached, single family homes are up 11.8% from the previous month and only 3.0% down from April 2008. (page 4)

• The Days on Market it takes to sell a detached single-family home is on the decline for the second month in a row. (page 8)

• 41.8 % of detached single-family homes sales in April used FHA Financing.

• Single-family home sales in Rio Rancho are identical to the April 2008 sales but the average sales price went down 14.9%. (page 11) Contact: Don Padilla, Chairman of the Board, 505-275-3615, dpadilla@gaar.com

2

Market Inventory

438

612 655

0

100

200

300

400

500

600

700

Apr-07 Apr-08 Apr-09

Condo/Townhomes on MarketApril 2007 - April 2009

4,990

5,943

5,399

4,4004,6004,8005,0005,2005,4005,6005,8006,0006,200

Apr-07 Apr-08 Apr-09

Single Family Homes on MarketApril 2007 - April 2009

SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.

5,399+ 655

TOTAL: 6,054

Total Active ListingsClass R1 & R2

As of May 5, 2009:Class R1 Active as of May 5, 2009:Class R2 Active as of May 5, 2009:

-Detached represents Existing Single-Family Detached Homes -Attached represents Existing Condo/Townhomes Attached Homes

3

New Listings this month 1,461

Compared to last month

3.3%

Compared to April 2008

19.1%

New Listings

Greater Albuquerque Market ActivityApril 2006 - April 2009

0

500

1,000

1,500

2,000

2,500

3,000

Apr-06

Oct-06

Apr-07

Oct-07

Apr-08

Oct-08

Apr-09

# of

Lis

tings

Pending Sold New

New Listings detachedMonth/Year 2005 2006 2007 2008 2009Jan 926 1,622 1,952 1,817 1,483Feb 727 1,501 1,897 1,615 1,272Mar 1,397 1,837 2,581 1,800 1,415Apr 1,661 1,869 2,491 1,805 1,461May 1,242 2,259 2,639 1,956Jun 1,918 2,381 2,755 1,878Jul 1,873 2,324 2,615 1,882Aug 1,845 2,473 2,742 1,668Sep 1,590 2,157 2,127 1,502Oct 1,790 2,133 2,393 1,411Nov 1,335 1,528 1,372 1,121Dec 1,049 1,297 1,064 917

SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.

4

Greater Albuquerque Market ActivityApril 2006 - April 2009

0

500

1,000

1,500

2,000

2,500

3,000

Apr-06

Oct-06

Apr-07

Oct-07

Apr-08

Oct-08

Apr-09

# of

Lis

tings

Pending Sold New

Pending Sales this month 836 Compared to last month

11.8% Compared to April 2008

3.0%

Pending Sales

Pending Sales detachedMonth/Year 2005 2006 2007 2008 2009Jan 942 1,051 935 884 571Feb 1,037 1,187 1,034 768 530Mar 1,064 1,316 1,155 836 748Apr 1,370 1,289 1,148 862 836May 1,297 1,361 1,157 869Jun 1,414 1,264 1,108 857Jul 1,448 1,249 1,058 871Aug 1,419 1,211 911 723Sep 1,227 1,037 758 706Oct 1,229 1,042 665 575Nov 1,031 900 645 493Dec 787 729 543 477

SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.

5

Greater Albuquerque Market ActivityApril 2006 - April 2009

0

500

1,000

1,500

2,000

2,500

3,000

Apr-06

Oct-06

Apr-07

Oct-07

Apr-08

Oct-08

Apr-09

# of

Lis

tings

Pending Sold New

Closed Sales

Closed Sales this month 542 Compared to last month

16.6%

Compared to April 2008

15.4%

Closed Sales detachedMonth/Year 2005 2006 2007 2008 2009Jan 627 754 662 408 324Feb 725 836 741 532 343Mar 835 1,111 964 624 465Apr 937 1,002 910 641 542May 1,174 1,152 1,020 674Jun 1,159 1,140 1,011 738Jul 1,231 1,123 992 704Aug 1,267 1,126 833 619Sep 1,187 990 716 604Oct 1,055 917 687 511Nov 1,021 824 556 411Dec 924 787 516 412

SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.

6

Closed Sales by Market Area

SWMLS Market Areas 10-121 City of Albuquerque 130 Corrales 140-162 Rio Rancho 170 Bernalillo 180 Placitas 210-293 East Mountains 690-760 Los Lunas, Belen, Bosque Farms

10-121 130 140-162 170 180 210-293 690-760

Apr-08 467 7 89 4 6 33 35

Apr-09 374 4 89 6 4 22 43

0

50

100

150

200

250

300

350

400

450

500

# of

Hom

es S

ales

April 2008 & 2009 Detached Sales

Apr-08 Apr-09

10-121 130 140-162 170 180 210-293 690-760

Apr-08 57 0 8 0 0 0 2

Apr-09 47 0 2 0 0 0 3

0

10

20

30

40

50

60

# o

f H

om

es S

ales

April 2008 & 2009 Attached Sales

Apr-08 Apr-09

7

Closed Sales by Price

< 30k 30k -39k

40k -49k

50k -59k

60k -69k

70k -79k

80k -89k

90k -99k

100k -

119k

120k -

139k

140k -

159k

160k -

179k

180k -

199k

200k -

249k

250k -

299k

300k -

399k

400k -

499k

500k -

749k

750k -

999k1m+

Detached 2 1 0 3 2 5 4 17 35 69 78 70 56 75 48 40 23 14 0 0Attached 0 0 0 0 1 0 2 3 10 6 9 8 4 5 3 1 0 0 0 0

0

10

20

30

40

50

60

70

80

90

Closed Sales by PriceApril 2009

Top Selling Price Range for Detached Homes $140,000-$159,000

Top Selling Price Range for Attached Homes $100,000-$119,000

Days on Market by Sale Price

< 99k 100k -119k

120k -139k

140k -159k

160k -179k

180k -199k

200k -249k

250k -299k

300k -399k

400k -499k

500k -749k

750k -999k 1m+

Avg. DOM 88 59 83 79 91 81 88 75 118 88 89 0 0

0

20

40

60

80

100

120

140

Days on Market by Sale PriceApril 2009 Sales (Detached)

8

Home Sales PricesSales PriceApril 2006 - April 2009

$140,000

$160,000

$180,000

$200,000

$220,000

$240,000

$260,000

Apr-06

Oct-06

Apr-07

Oct-07

Apr-08

Oct-08

Apr-09

Median Sales PriceAverage Sales Price

Median Sales Price for Single Family Homes $175,500

Average Sales Price for Single Family Homes $206,070

Days on MarketAvg Days on Market ( 85 DOM for April)

0

20

40

60

80

100

120

Apr-0

6

Oct-06

Apr-0

7

Oct-07

Apr-0

8

Oct-08

Apr-0

9

The Days on Market is determined by calculating the total days it takes for a property to be listed as active on the market until it goes under contract or pending.

SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.

9

Absorption Rate

Supply-Demand Ratio

April 2009 - April 2009

6.77 6.84 7.28 7.388.85 9.04

10.7512.09 12.04

9.15 10.02

7.18 6.39

02468

101214

Apr-0

8

May-0

8

Jun-

08Ju

l-08

Aug-0

8

Sep-0

8

Oct-08

Nov-0

8

Dec-0

8

Jan-

09

Feb-

09

Mar-0

9

Apr-0

9

The Supply-Demand Ratio is calculated by comparing the number of homes for sale at the beginning of each month w ith the number of total pending sales for the month. The higher the Supply-Demand Ratio, the more

supply there is relative to demand.

Num

ber

of A

ctiv

e Li

stin

gs

for

Eac

h B

uyer

April 2008 - April 2009

7.558.13 8.64 8.91 9.28 9.25 9.16 9.14

8.47 8.85 9.03 9.07 9.27

0123456789

10

Apr-08

May-08

Jun-0

8Ju

l-08

Aug-08

Sep-08

Oct-08

Nov-08

Dec-08

Jan-0

9

Feb-09

Mar-09

Apr-09

The Absorption Rate measures how long it w ill take to exhaust or sell our current supplyof housing inventory. A six month supply is traditionally considered an average market.

Mon

th S

uppl

y of

Hom

es

10M

arke

t Ove

rvie

w

SOU

RC

E: G

reat

er A

lbuq

uerq

ue A

ssoc

iatio

n of

REA

LTO

RS ®

So

uthw

est M

LS S

ales

Dat

a is

dee

med

relia

ble

but n

ot g

uara

ntee

d.

2009

(DET

)20

09(D

ET)

2008

Perc

ent

Chan

ge(A

TT)

2009

(ATT

)20

08Pe

rcen

t Ch

ange

(DET

+ATT

) 20

09 Y

ear-

to-

Date

(DET

+ATT

) 20

08 Y

ear-

to-

Date

Perc

ent

Chan

ge

New

Lis

tings

Apr

1,46

11,

805

-19.

06%

145

188

-22.

87%

6,29

07,

790

-19.

26%

May

1,95

6--

206

--9,

952

--

Jun

1,87

8--

168

--11

,998

--

Pend

ing

Sale

sAp

r83

686

2-3

.02%

8598

-13.

27%

2,94

73,

719

-20.

76%

May

869

--92

--4,

680

--

Jun

857

--89

--5,

626

--

Clos

ed S

ales

Apr

542

641

-15.

44%

5267

-22.

39%

1,83

72,

463

-25.

42%

May

674

--72

--3,

209

--

Jun

738

--85

--4,

032

--

Apr

$111

.6$1

45.5

-23.

30%

$8.1

$10.

7-2

4.30

%$3

80.0

$548

.0-3

0.66

%

May

$166

.7--

$12.

9--

$727

.6--

Jun

$183

.3--

$13.

9--

$924

.8--

Med

ian

Sale

s Pr

ice

Apr

$175

,500

$189

,000

-7.1

4%$1

53,7

00$1

52,0

001.

12%

----

--

May

$205

,000

--$1

63,5

00--

----

--

Jun

$203

,500

--$1

57,0

00--

----

--

Ave

rage

Sal

es P

rice

Apr

$206

,070

$227

,281

-9.3

3%$1

56,4

20$1

60,2

48-2

.39%

----

--

May

$247

,295

--$1

80,0

35--

----

--

Jun

$248

,375

--$1

64,5

10--

----

--

Tota

l Act

ive

Apr

5,39

95,

943

-9.1

5%65

561

27.

03%

----

--

List

ings

Ava

ilabl

eM

ay6,

241

--63

2--

----

--

Jun

6,42

8--

646

----

----

Ave

rage

Day

s on

Mar

ket

Apr

8566

28.7

9%10

575

40.0

0%--

----

May

65--

67--

----

--

Jun

68--

62--

----

--

Dolla

r Vol

ume

of C

lose

d Sa

les

(in m

illion

s)

11

Mar

ket C

ompa

rison

SOU

RC

E: G

reat

er A

lbuq

uerq

ue A

ssoc

iatio

n of

REA

LTO

RS ®

So

uthw

est M

LS S

ales

Dat

a is

dee

med

relia

ble

but n

ot g

uara

ntee

d.

RIO

RAN

CH

O(D

ET)

2009

(DET

)20

08Pe

rcen

t C

hang

eAB

Q A

REA

(DET

)20

09(D

ET)

2008

Perc

ent

Cha

nge

New

Lis

tings

Apr

255

300

-15.

00%

New

Lis

tings

Apr

970

1,20

7-1

9.64

%

May

309

May

1,31

5

Jun

371

Jun

1,26

4

Pend

ing

Sale

sA

pr14

615

3-4

.58%

Pend

ing

Sale

sA

pr59

059

5-0

.84%

May

130

May

645

Jun

122

Jun

625

Clo

sed

Sale

sA

pr89

890.

00%

Clo

sed

Sale

sA

pr37

446

7-1

9.91

%M

ay11

2M

ay47

8

Jun

98Ju

n54

8

Med

ian

Sale

s Pr

ice

Apr

$160

,000

$184

,000

-13.

04%

Med

ian

Sale

s Pr

ice

Apr

$178

,000

$189

,000

-5.8

2%M

ay$1

95,7

50M

ay$2

01,0

00

Jun

$187

,000

Jun

$207

,000

Ave

rage

Sal

es P

rice

Apr

$185

,886

$218

,422

-14.

90%

Ave

rage

Sal

es P

rice

Apr

$205

,901

$227

,641

-9.5

5%M

ay$2

19,2

09M

ay$2

44,3

30

Jun

$199

,978

Jun

$249

,198

Tota

l Act

ive

Apr

934

1,04

5-1

0.62

%To

tal A

ctiv

eA

pr3,

245

3,64

7-1

1.02

%M

ay1,

113

May

3,76

6

Jun

1,16

0Ju

n3,

886

Ave

rage

Day

s on

Mar

ket

Apr

103

7145

.07%

Ave

rage

Day

s on

Mar

ket

Apr

7060

16.6

7%M

ay74

May

61

Jun

75Ju

n63