Housing Demand Increases in Carlsbad and Eddy County, New Mexico

    CARLSBAD, NM, April 06, 2023 /24-7PressRelease/ -- Housing demand increases in Carlsbad and Eddy County continue to play a pivotal role in a variety of ways including the quality of life in the community, an increase of population, workforce growth and overall development of the future.

Simply put, when the demand is high, but supply is low, prices rise across all types of necessary housing. When there is a large supply available in a market, prices are lower. One thing that is consistent, with the continued influx of new companies and workers, residents need a place to live.

The goal of the Carlsbad Department of Development (CDOD) and the City of Carlsbad is to actively promote the community in order to increase housing opportunities in the area. With the apartment supply occupancy hovering above 85% over the past seven months and the steady demand for single family homes along with material, supplies and the increased cost to borrow money, the local development team continues pursuing progress in the market.

The CDOD works as the primary housing development recruiting tool for the Carlsbad market. Another ongoing effort to provide data for the housing reports includes attending regional housing industry trade shows with a targeted booth promoting the community and county as a great place to develop housing, especially affordable and multifamily housing. The CDOD facilitates communication between potential developers and City Planning Department officials and maintains a measurement of the temporary housing supply, demand, and growth accordingly. Identifying any supply gaps, including affordable single & multifamily homes, condos, duplexes, mixed use of commercial and residential dwelling spaces is also an ongoing focus.

"One of the most important roles that both the Carlsbad Department of Development and the City of Carlsbad play in this community is to assist private developers with housing," said Carlsbad Mayor Dale Janway. "The City supports all efforts to attract builders and developers to Carlsbad, and to make sure that the process here is as hassle free as possible. Carlsbad remains a community of incredible opportunity, and we must continue to look at growth opportunities."

The CDOD is preparing to attend the Build Expo show on April 12-13, 2023 in Dallas, TX. With thousands of developers, builders, capital investors and related industries attending this show on a regular basis, the CDOD has experienced great success here over the years.

The backbone for the county's growth is based on the industrial diversity within the economy. Potash mining, nuclear storage, oil and gas, and manufacturing are the main pillars associated with the major industrial base in the area. Strong growth within the medical sector bolsters this base as well, and the Carlsbad Caverns National Park, the Living Desert Zoo and Gardens State Park, Sitting Bull Falls and other outdoor attractions make Carlsbad a true destination.

"I believe that Eddy County is a unique and exciting place to live and work because of the broad range of active industries doing business in the County," said Eddy County Manager Al Davis. "The economic indicators published by the State Department of Economic Development have clearly shown for more than the past eight quarters, that the economic impact that occurs in Eddy County is in the top three counties across the state."

Carlsbad and Eddy County are poised for future growth and maintain a positive outlook moving forward.

"Housing continues to be a constraint to even more growth in the County," continued Davis. "The supply of housing available isn't sufficient to meet the needs that would support the additional growth."

The Carlsbad Department of Development is the economic development agency for the City of Carlsbad/Eddy County, New Mexico. Understanding the future pipeline of the next generation home buyers and renters is also important looking to the future. Promoting Carlsbad/Eddy County as a well-rounded community to live work and play.

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