Taos, New Mexico, located in the north-central region of the state, remains a weak real estate market at this time.

This is according to local Realtors, Amanda and Peter Lora.

And the peak of the year has probably already come and gone, as Fall is typically the area's strongest season.

The Loras note, "For the relatively small number of buyers who are looking at property, there does not seem to be any sense of urgency to buy. They perceive that the market is still slow, that there is above-average inventory, and that prices are not rising fast. Additionally, buyers are still being affected by uncertainty in the national real estate market: their current primary residence may not be worth as much as it was before the national slump began, and that they might not be able to sell it in a timely manner."

The good news? The median price of homes continues to increase, and is now at $323,000.

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Published: December 26, 2007

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