States › New Mexico
State
New Mexico
27 counties with an index · 17 metro and micro areas · 90 ZIP codes · 21 permit-issuing places · 2,125,498 residents (2025 est.)
FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The line is FHFA's standard quarterly all-transactions index; the comparison table uses FHFA's annual state index from the same family. The index does not give a dollar value for any home.
New Mexico's FHFA house price index starts in 1975. Through 2025 it has risen +750.4%; over the ten years to 2025 the rise was +81.6% (+6.1% a year), close to the national +85.0%.
The quarterly index through 2026 Q2 is +2.1% on a year earlier and +1.2% on the quarter; nationally +3.0% and +1.1%.
The index peaked in 2007, fell −16.2% to 2012 and regained the peak in 2019; the national index fell −21.3% over 2007–2012.
7,746 housing units were authorised in New Mexico in the 12 months to August 2026, 3.6 per 1,000 residents against 4.1 nationally; that is −4.7% on the previous 12 months. 27 counties, 17 metro and micro areas, 90 ZIP codes and 21 permit-issuing places in the state have their own pages.
Same span, state and nation
| Change in the FHFA index | New Mexico | United States |
|---|---|---|
| 1 year (2024–2025) | +3.1% | +2.8% |
| 5 years (2020–2025) | +49.8% | +47.0% |
| 10 years (2015–2025) | +81.6% | +85.0% |
| 20 years (2005–2025) | +88.8% | +79.1% |
| Since 2000 | +150.9% | +158.3% |
| Since 1975 | +750.4% | +960.7% |
| 10-year annualised | +6.1% | +6.3% |
| 20-year annualised | +3.2% | +3.0% |
Decade by decade
| Decade | Change | United States | |
|---|---|---|---|
| 1980s (1980–1990) | +32.8% | +68.2% | |
| 1990s (1990–2000) | +45.2% | +33.9% | |
| 2000s (2000–2010) | +42.9% | +29.7% | |
| 2010s (2010–2020) | +17.2% | +35.5% | |
| 2020s so far (2020–2025) | +49.8% | +47.0% |
FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1975 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1975 are not shown.
Peak-to-low declines
| Peak | Low | Decline | Peak regained |
|---|---|---|---|
| 2007 | 2012 | −16.2% | 2019 |
Purchase-only index
FHFA also publishes a purchase-only index, built from sales prices alone (no refinance appraisals). It starts in 1991 and is drawn here on its own base.
Counties
Ranked by ten-year change in FHFA's annual county index to 2025. Permits are housing units authorised in the 12 months to August 2026.
| County | 1 year | 10 years | Since 2000 | Units, 12 months | Per 1,000 | Index through |
|---|---|---|---|---|---|---|
| Los Alamos County | −2.9% | +127.0% | +134.5% | 12 | 0.6 | 2025 |
| Valencia County | +4.8% | +101.8% | +151.0% | 243 | 3.0 | 2025 |
| Sierra County | +8.3% | +99.1% | +141.2% | 0 | 0.0 | 2025 |
| Sandoval County | +2.0% | +96.5% | +155.2% | 810 | 5.1 | 2025 |
| Santa Fe County | +0.8% | +94.8% | +168.1% | 557 | 3.5 | 2025 |
| Rio Arriba County | +2.6% | +89.8% | +116.1% | 0 | 0.0 | 2025 |
| Lincoln County | −1.5% | +88.2% | +171.4% | 78 | 3.9 | 2025 |
| Taos County | +0.1% | +87.7% | +151.7% | 101 | 2.9 | 2025 |
| Bernalillo County | +2.9% | +86.2% | +158.8% | 1,720 | 2.6 | 2025 |
| Otero County | +7.9% | +82.5% | +135.9% | 5 | 0.1 | 2025 |
| San Miguel County | +14.9% | +79.7% | +126.5% | 0 | 0.0 | 2025 |
| Doña Ana County | +1.9% | +79.5% | +138.9% | 777 | 3.4 | 2025 |
| Grant County | +2.4% | +77.9% | +147.0% | 0 | 0.0 | 2025 |
| Luna County | −1.9% | +75.3% | +117.0% | 2 | 0.1 | 2025 |
| Torrance County | −2.5% | +74.9% | +107.1% | 0 | 0.0 | 2025 |
| Quay County | — | +63.9% | — | 0 | 0.0 | 2024 |
| Colfax County | −1.4% | +63.7% | +142.0% | 0 | 0.0 | 2025 |
| Chaves County | +3.5% | +63.0% | +157.3% | 70 | 1.1 | 2025 |
| Eddy County | +5.4% | +63.0% | +208.8% | 359 | 5.7 | 2025 |
| San Juan County | +6.2% | +57.0% | +139.2% | 84 | 0.7 | 2025 |
| Cibola County | +14.3% | +56.9% | +157.1% | 0 | 0.0 | 2025 |
| Socorro County | −10.1% | +54.5% | +104.2% | 0 | 0.0 | 2025 |
| McKinley County | +5.0% | +54.0% | +99.7% | 1 | 0.0 | 2025 |
| Lea County | +6.2% | +50.5% | +232.6% | 138 | 1.8 | 2025 |
| Curry County | +2.7% | +39.4% | +144.1% | 85 | 1.8 | 2025 |
| Roosevelt County | +5.8% | +37.8% | +142.8% | 0 | 0.0 | 2025 |
| Union County | +0.9% | +35.6% | — | 0 | 0.0 | 2025 |
Metro and micropolitan areas
Areas with any county in New Mexico; multi-state areas appear under each of their states.
| Area | Type | 1 year | 10 years | Year to 2026 Q2 | Units, 12 months |
|---|---|---|---|---|---|
| Los Alamos, NM | Micro | −2.9% | +127.0% | — | 12 |
| Santa Fe, NM | Metro | +0.8% | +94.8% | +4.0% | 557 |
| Espa ola, NM | Micro | +2.6% | +89.8% | — | 0 |
| Albuquerque, NM | Metro | +2.8% | +88.5% | +2.2% | 2,773 |
| Ruidoso, NM | Micro | −1.5% | +88.2% | — | 78 |
| Taos, NM | Micro | +0.1% | +87.7% | — | 101 |
| Alamogordo, NM | Micro | +7.9% | +82.5% | — | 5 |
| Las Cruces, NM | Metro | +1.9% | +79.5% | −0.4% | 777 |
| Silver City, NM | Micro | +2.4% | +77.9% | — | 0 |
| Las Vegas, NM | Micro | +13.2% | +77.8% | — | 0 |
| Deming, NM | Micro | −1.9% | +75.3% | — | 2 |
| Carlsbad-Artesia, NM | Micro | +5.4% | +63.0% | — | 359 |
| Roswell, NM | Micro | +3.5% | +63.0% | — | 70 |
| Farmington, NM | Metro | +6.2% | +57.0% | +7.8% | 84 |
| Gallup, NM | Micro | +5.0% | +54.0% | — | 1 |
| Hobbs, NM | Micro | +6.2% | +50.5% | — | 138 |
| Clovis, NM | Micro | +3.9% | +39.3% | — | 85 |
Building permits
Housing units authorised in New Mexico by month, latest 60 monthssingle-family2+ unit buildings
Housing units authorised in New Mexico by year, 1995–2025single-family2+ unit buildings
Single-family share of the latest 12 months: 79% (63% nationally). Since 1995: 249,094 units.
Year by year
Each year's index change and permits, with every county's figures for that year.
| Year | New Mexico index | US index | Units permitted | Single-family |
|---|---|---|---|---|
| 2025 | +3.1% | +2.8% | 7,747 | 6,296 |
| 2024 | +5.4% | +4.9% | 7,572 | 6,488 |
| 2023 | +7.9% | +5.7% | 8,511 | 6,835 |
| 2022 | +14.7% | +15.5% | 8,633 | 7,155 |
| 2021 | +11.4% | +11.6% | 7,753 | 5,465 |
| 2020 | +4.8% | +3.0% | 5,219 | 4,418 |
| 2019 | +4.9% | +4.2% | 5,020 | 4,285 |
| 2018 | +3.9% | +5.7% | 4,813 | 4,394 |
| 2017 | +3.3% | +5.4% | 4,741 | 4,114 |
| 2016 | +2.8% | +5.3% | 4,863 | 3,816 |
| 2015 | +1.6% | +4.4% | 4,599 | 3,925 |
| 2014 | +1.4% | +6.2% | 4,799 | 4,055 |
| 2013 | +0.9% | +3.4% | 5,161 | 3,568 |
| 2012 | −2.7% | −1.8% | 4,672 | 3,220 |
| 2011 | −4.3% | −4.4% | 4,067 | 3,399 |
| 2010 | −4.2% | −5.1% | 4,533 | 4,006 |
| 2009 | −5.1% | −7.5% | 4,642 | 4,140 |
| 2008 | −0.9% | −4.5% | 6,070 | 5,224 |
| 2007 | +5.6% | +0.6% | 9,206 | 8,234 |
| 2006 | +13.1% | +6.6% | 13,573 | 12,294 |
| 2005 | +12.3% | +12.4% | 14,180 | 13,417 |
| 2004 | +6.9% | +9.2% | 12,555 | 11,674 |
| 2003 | +3.7% | +4.5% | 13,759 | 11,865 |
| 2002 | +3.1% | +5.4% | 12,066 | 10,361 |
| 2001 | +3.6% | +6.7% | 9,989 | 8,950 |
| 2000 | +1.9% | +8.3% | 8,869 | 8,190 |
| 1999 | +1.1% | +4.3% | 9,716 | 8,595 |
| 1998 | +1.3% | +3.7% | 10,312 | 9,217 |
| 1997 | +2.0% | +3.8% | 10,265 | 8,182 |
| 1996 | +2.0% | +3.2% | 10,180 | 8,842 |
| 1995 | +7.9% | +3.7% | 11,009 | 8,619 |
Cities issuing the most permits
Housing units authorised in the 12 months to August 2026; every place is listed on its county page.
- Balance of State 2,704
- Albuquerque 1,568
- Rio Rancho 792
- Las Cruces 612
- Santa Fe 557
- Carlsbad 307
- Los Lunas village 233
- Dona Ana County Unincorporated Area 163
- Bernalillo County Unincorporated Area 152
- Hobbs 138
- Taos County Unincorporated Area 100
- Clovis 85
- Ruidoso village 77
- Artesia 52
- Roswell 50
- Farmington 47
- San Juan County Unincorporated Area 37
- Chaves County Unincorporated Area 20
- Corrales village 18
- Los Alamos County 12
Questions and answers
How much have home values in New Mexico risen over 10 years?
The FHFA index rose +81.6% between 2015 and 2025, +6.1% a year; over 20 years +88.8% and since 2000 +150.9%. Nationally: +85.0%, +79.1% and +158.3%.
Which New Mexico counties rose most over 10 years?
Los Alamos County (+127.0%), Valencia County (+101.8%) and Sierra County (+99.1%), by FHFA's annual county index to 2025.
What happened to New Mexico home prices in 2008?
The state index peaked in 2007, fell −16.2% to 2012 and regained its peak in 2019.
How many homes are being built in New Mexico?
7,746 units were authorised in the 12 months to August 2026: 6,145 single-family and 1,601 in multi-unit buildings, 3.6 per 1,000 residents.
Where does this data come from?
FHFA's quarterly all-transactions state index (through 2026 Q2) and annual state index (updated March 31, 2026); the Census Bureau's Building Permits Survey state and county files through August 2026; vintage 2025 population estimates.
Provenance
Index: Federal Housing Finance Agency, quarterly all-transactions and purchase-only state indexes through 2026 Q2 and annual state index (updated March 31, 2026). Permits: Census Bureau Building Permits Survey state, county and place files through August 2026. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.