ALBUQUERQUE, N.M. — You may have noticed more homes for sale and housing inventory on the rise but what does that mean for you?

There are around 1,500 homes in the market. February saw the greatest number of new listings in the last three years. Home prices are now $405,000 on average, which is up 7% from last year.

For buyers, that is tough. For sellers, that is perfect.

But, interest rates are starting to come down which can help the buyer. It’s recommended buyers should look for price reductions.

For sellers, Skip recommends:

• Pricing appropriately
• 40% of sellers have price lowered

Skip Adams, from #SoldBySkip, talked about what that means in the video above.