NM Home Sales Skyrocket

New Mexico – The Realtors Association of New Mexico says home sales rose 21.5 percent last month compared to March 2009.

The association says the activity reflects buyers who are trying to beat the April 30 deadline for the expiration of tax credits for homes.

The group's executive vice president, Steve Anaya, says the real test of a sustained recovery will come after the credits expire.

The median sales price of a home in New Mexico last month was $171,000. That's slightly higher than the February median price of $169,950.

The association also reports an 11.6 percent increase in the number of homes sold in the first quarter of 2010 compared to the same period in 2009.

Copyright 2010 The Associated Press.