Clovis, NM Housing Market
AI-powered market intelligence for the Clovis, NM metro area.
PropertyIQ Scores
Clovis, NM Market Analysis
Market Overview
Clovis, New Mexico, registers a PropertyIQ Score of 16 out of 100, underscoring a weak housing market. The score’s top drivers include negative home value momentum—down 0.62% over 12 months and 0.33% over the last three—along with a median 65 days on market and 16.7% of listings seeing price cuts. At $162,607, the median home value is barely half the New Mexico average of $321,186, placing homeownership within reach at sticker prices far below the state norm. However, local median household income of $55,193 also trails the state’s $62,125, and the unemployment rate matches the statewide 4.9%, giving buyers limited purchasing power to energize the market.
The softness runs deep: 266 homes are currently for sale in a community where price cuts are common and marketing times are lengthy. The rental market, interestingly, commands a premium, with a rent index of $1,206 per month that exceeds the state’s $1,021. That rent advantage has not translated into enough purchase demand to shorten days on market or reverse the mild decline in home values. Instead, Clovis operates as a buyer’s market—one defined by abundant choices, modest negotiation power for buyers, and very little upward pressure on prices.
Key Trends
**Declining price momentum.** The 12‑month home value momentum sits at -0.62%, and the three‑month figure at -0.33%, while the year‑over‑year dollar change was a negligible -$5. This persistent, albeit modest, downward trend suggests that even at deeply discounted prices relative to the state, demand is not strong enough to generate appreciation. Prices are essentially stuck in neutral, with a slight backward tilt.
**Slow‑moving inventory and seller concessions.** With a median days on market of 65 and a 16.7% share of listings that have reduced their asking price, the sales process is noticeably unhurried. The 266 homes for sale give buyers ample options and little urgency, reinforcing the need for sellers to price competitively or wait longer to close. These conditions favor buyers and keep a lid on any price growth.
**Affordability contrast with limited fuel.** Clovis offers a rare combination: a median home value of $162,607 and a rent index of $1,206, which is higher than the state’s $1,021. On paper, that makes buying more attractive relative to renting and produces appealing gross rental yields for investors. Yet median household income of $55,193 lags the state’s $62,125, and population growth figures are unavailable—factors that may be restricting the pool of qualified buyers and keeping the market in a low‑demand equilibrium.
Who Is This Market For
This market is best suited for first‑time homebuyers and cash‑flow‑oriented investors who value affordability over appreciation. The $162,607 median home value dramatically lowers the barrier to entry, while the $1,206 rent index—which outpaces the statewide figure—translates to attractive rent‑to‑price ratios for landlords willing to hold through a slow‑moving sales environment. Patient buyers can take advantage of the 65‑day sales cycle and the prevalence of price reductions to negotiate favorable deals. Move‑up buyers who need to sell an existing home, however, may face challenges: elevated inventory and a discounting environment mean their property could linger and might require a price cut to attract interest. Overall, Clovis rewards a long‑term outlook that prioritizes monthly cash flow and low carrying costs over the expectation of quick equity gains.
Outlook
Current data points toward a continuation of Clovis’ low‑growth, buyer‑friendly conditions. The negative 12‑month and three‑month home value momentum, combined with a 65‑day median time on market and a 16.7% share of price‑cut listings, suggest that prices will remain flat to slightly negative in the near term. The 266 homes for sale provide an inventory cushion that is unlikely to be absorbed rapidly, keeping leverage with buyers. While the unemployment rate matches the state average at 4.9%, the income deficit relative to statewide figures limits the pace at which local residents can trade up or enter the market. The rent premium may continue to draw some investor capital and provide a price floor, but without new catalysts evident in the data, the PropertyIQ Score of 16 reflects a market that is expected to stay in its current, subdued gear.
AI-generated analysis based on current market data. Last updated July 19, 2026.
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Clovis, NM market data
Clovis, NM Housing Market Overview
Clovis, NM's median home value is $163K, down 0.6% over the past year. Homes here sell in a median 65 days. Its PropertyIQ Score of 16 sits below the state average of 50, marking a market positioned to lag its state over the next three years.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Clovis, NM area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across NM and every other US state.
Mountain West markets combine outdoor lifestyle appeal with booming tech and remote-work migration. Cities across Colorado, Utah, Arizona, and Nevada have experienced some of the nation's fastest appreciation, though rising interest rates have introduced new dynamics to these previously red-hot markets. Within the Mountain West, Clovis, NM's PropertyIQ Score of 16 runs below the Mountain West norm.
For the Clovis, NM market, PropertyIQ calculates a single score each month from four inputs: twelve-month Zillow home-value momentum, three-month Zillow home-value momentum, median days on market from Realtor.com, and the Realtor.com price-reduced share. The score is computed nationally across all metros and calibrated so 50 equals the state average. Across the validation history, metro markets in the top score band have outperformed their state by roughly 1.7 percentage points more per year than bottom-band markets. Momentum here has been negative, with home values down 0.6% over the past year.
Explore the interactive map to see how Clovis, NM compares to neighboring metros, or view the full market dashboard for detailed analytics including time-series trends, score breakdowns, and AI-generated market reports.
Counties in the Clovis, NM metro area
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Market data through June 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Clovis, NM a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Clovis, NM currently scores 16, a very weak-momentum reading that leaves it positioned to lag its state over the next three years. For buyers, cooling demand usually brings more inventory, longer sale times, and real leverage to negotiate on price. Backing that up, the median home value here is $163K, down 0.6% over the past year. So whether Clovis, NM is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Clovis, NM?
Clovis, NM's PropertyIQ Score is 16, indicating very weak momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 16 places Clovis, NM below its state benchmark.
Are home prices in Clovis, NM rising or falling?
Home prices in Clovis, NM are falling. Over the past year, the median home value declined 0.6%, reaching $163K. Over the latest three months, values slipped 0.3%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Clovis, NM's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Clovis, NM?
In Clovis, NM, homes sell in a median of 65 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 17% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Clovis, NM market data is refreshed on a monthly cycle, with the latest figures current through June 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.