Regional Alignment

Santa Fe’s housing market is starting to look more like its feeder metros than the destination towns it’s often compared to. Home sales are down about 5 percent year over year, right in line with places like Denver and Los Angeles, and not far off Austin’s small dip of just over one percent. The pattern is clear: Santa Fe is now moving with the broader metro economies that send us buyers, rather than the resort-driven markets where seasonal swings tend to dominate.

One possible reason is a shift in who’s calling Santa Fe home. Fewer buyers seem to be purchasing second homes, while more are settling here as full-time residents. It’s something many longtime locals have noticed firsthand, from the changing pace of daily life to…

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