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Dec 30, 2022 Homebuyers from 34 states moved to Las Cruces in 2022

Gary Sandler

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Published 30 December 2022

A sampling of 485 of the 2,285 sales of new and existing homes, townhomes and condominiums that closed between Jan. 1 and Dec. 28 of 2022 revealed that buyers from 34 states chose to make Las Cruces their new home. The numbers were gleaned from the archives of the Las Cruces Association of Realtors on Dec. 28, 2022.

The report also revealed that just over twenty-one percent of all out-of-state homebuyers who purchased a Las Cruces-area home through Dec. 28 of this year were retirees. Another 12.8 percent of inbound households moved to our area to take a new job, while an additional 23.3 percent purchased an investment property. The remaining 63.9 percent of out-of-staters were either first-timers, buyers who moved up or down in size or price, or buyers who cited health as the reason behind their moves.

Just over one-quarter of all out-of-state homebuyers who moved to our area during the reporting period relocated from just four states: California (9.9%), Texas (8.0%), Colorado (4.1%), and Arizona (3.3%).

Just over 27 percent of 2022’s relocation buyers paid cash for their properties. Forty-four percent purchased utilizing conventional financing, while 14 percent used an FHA loan, and 11.9 percent signed for a Veteran’s Administration loan. The remaining 17 percent of sales were owner-financed transactions or the type of financing was not reported.

In its 2021 National Movers’ Study, United Van Lines cited 27.41 as the percentage of inbound household moves to New Mexico that were motivated by retirement. An additional 20 percent were motivated by a desire to change lifestyles with an equal number relocating to take a new job. The percentage includes both homebuyers and renters throughout the state. The survey also indicated that 62.26 percent of New Mexico’s inbound relocations were made by people who were 55 years of age and older at the time of their move.

Retirees paid a median price of $337,321 for their Las Cruces-area replacement homes in 2022. The median is where half sold for more and half sold for less. The median sales price for all homes purchased was $279,900, leaving no doubt that retirees are a positive influence on our local economy.

According to the Pew Research Center, Jan. 1, 2011 was the day that the oldest members of the Baby Boomer generation turned 65 years of age. Since that fateful date,10,000 baby boomers a day continue to celebrate their 65th birthdays.

The Pew report also notes that it will take until 2030 for the last of the remaining baby boomers to reach the magic retirement age of 65. At that time, an estimated 18 percent of our nation’s population will have reached that milestone. Today, baby boomers make up approximately 21 percent of the U.S. population. Let’s hope that increasing numbers of them continue to make Las Cruces their retirement destination.

See you at closing.

Gary Sandler is a full-time Realtor and president of Gary Sandler Inc., Realtors in Las Cruces. He loves to answer questions and can be reached at 575-642-2292 or Gary@GarySandler.com.

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