The Albuquerque metro is seeing signs of slowing real estate momentum, though underlying metrics of the market’s economic vitality remain in good health. While the unemployment rate has risen over the past year, job growth has remained steadfast. Moreover, average wages have recently accelerated as firms are competing for available labor. On the multifamily construction front, the pace of new development has slumped, reaching its lowest point in nearly three years. Still, apartment rents are growing above the national average on both an annual and monthly basis.