Albuquerque s housing market slowed down but home price growth stayed strong during the first month of 2022, according to the most recent monthly market repo.
In 2011, there were 198.
And the current number likely would be higher, officials say, if homeowners were not protected by a cap on valuation increases.
Albuquerque has a sizzling real estate market, with soaring prices. The vast majority of county homeowners had an increase on the valuation notices the assessor sent this spring.
“Everything that we do is really dictated by what is going on in that market,” said County Assessor Tanya Giddings, whose office uses a mass appraisal system.
While Giddings’ office is responsible for determining and maintaining the “current and correct” value of houses, commercial buildings and other properties, state law prohibits her from raising a home’s assessed value by more than 3% per year except in certain cases. The vast majority of the county’s residential parcels are subject to the cap, meaning many have an assessed value lower than market value.