Santa Fe, NM Housing Market Forecast — September 2026
Typical home value $552,685 as of August 2026 · Neutral
Blue: typical Santa Fe home value (Zillow ZHVI, smoothed and seasonally adjusted), last 10 years. Amber dash: forecast path through September 2027; dotted lines mark the 80% confidence range, which widens with the horizon.
Why the model sees it this way
Sialim's model forecasts the typical Santa Fe home value will hold near flat in September 2026, from $552,685 to about $553,143. The 80% confidence range runs from $552,770 to $553,750.
Prices rose an average of 0.19% per month over the past three months, and the market is up 0.9% from a year ago.
The 30-year mortgage rate sits near 6.7% (restrictive for affordability); for-sale inventory is about even with a year ago (-3%); national unemployment is 4.1%. For this metro the price-only model outperformed the macro-augmented one in backtesting, so the forecast leans on the price trend itself.
Over the most recent six-month test window, this model's predictions for Santa Fe were off by 0.3% on average. Smaller is better; anything under 1% is strong for monthly home values.
How this compares with Zillow's forecast
| Horizon | Sialim | Zillow's forecast |
|---|---|---|
| Next month | +0.08% | +0.20% |
| Three months | +0.43% | +0.30% |
| Twelve months | +0.01% | +1.40% |
Both forecasts point the same direction for Santa Fe over the next twelve months. Zillow forecast © Zillow, shown for comparison; horizons are aligned to the nearest published month. Agreement or disagreement between the two models is a useful signal either way.
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Frequently asked questions
What is the Santa Fe home value forecast for September 2026?
$553,143, a +0.08% change from the latest value of $552,685. The 80% confidence range is $552,770 to $553,750.
Is the Santa Fe housing market cooling or heating up?
Sialim classifies Santa Fe as "Neutral". No strong signal in either direction right now.
What is the Santa Fe home price forecast for 2027?
Sialim's model projects $552,767 by September 2027, a +0.01% change from today's $552,685. The 80% range is $542,279 to $565,285; year-ahead forecasts carry much wider uncertainty than next-month calls.
How accurate is this forecast?
Over the most recent six-month test window, this model's Santa Fe predictions were off by 0.3% on average.
Model details
Forecasts come from Sialim's proprietary forecasting engine, which runs several competing model specifications for every metro, backtests them against what actually happened, and publishes the winner for each horizon. Trained on 292 monthly observations (2002-05-31 to 2026-08-31). This metro's market heat index reads 37, with 0.2% of listings showing a price cut. See the methodology for how forecasts are built, and the ZHVI guide for what the underlying index measures.
Forecasts are model output, not advice. Data: Zillow ZHVI (© Zillow), Freddie Mac via FRED, US Bureau of Labor Statistics via FRED.