Housing construction steady in New Mexico’s oil region

New Mexico

HOBBS, N.M. (AP) — The crash of the oil business and the economic decline that has followed the COVID-19 pandemic hasn’t stopped construction for the housing shortage in the heart of New Mexico’s oil region.

The Hobbs News-Sun reports Hobbs, New Mexico, is seeing new construction with three major developments, and building continues to grow through the pandemic.

On top of the lots and homes being sold, multiple companies are trying to meet the need for apartments.

Real estate agents say that despite the oilfield crash, the region still has a housing shortage.

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