|Tight Housing Market in New Hampshire Continues,
Reflecting Low Inventory and Higher Prices
|The trend continues in New Hampshire’s housing market: a relatively low inventory of homes for sale, particularly in the entry-level range; higher prices for homes that are for sale; and a rental market with low availability of units and increasing rents. To some degree, this trend reflects positives like low unemployment and rising home prices.
According to New Hampshire Housing’s September 2017 Housing Market Update report, much remains the same about New Hampshire’s housing market over the past year. In more densely populated counties like Hillsborough, Merrimack and Rockingham – where most of the state’s businesses are located – home prices continue to rise.
In those areas and statewide, the inventory of homes for sale has decreased and in active markets the lack of inventory likely is slowing the pace of sales. While interest rates are still low, they may slowly increase over the next year.
The data also indicate that finding affordable housing is an ongoing challenge for both buyers and renters. This is of concern because our housing market needs to be responsive to shifts in the state’s demographics and economy. An adequate housing supply supports business growth and enables the state’s economy to grow.
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