The real estate market in Hobbs and the surrounding area is tied closely to the oil economy and the price of oil as it relative to jobs. With oil prices on the Up swing lately the housing market is expected to follow and remain strong . Hydraulic drilling has been used for the last 50 years in the Hobbs area and is used to safely explore for natural gas and oil. The horizontal drilling has allowed operators to stay economically viable and New Mexico is one of the nations largest producers of natural gas and oil. There will be a demand for housing to this industry and will continue to help drive the Hobbs economy
