Factors which Affect the Real Estate Market in the New London-Lake Sunapee Area
One of the things which has the most impact on our market is what is going on in states from which many of our buyers come. That’s why it was exciting to see a couple of articles in RISMedia at the end of June which was reporting increased sales of single-family homes in Connecticut and Massachusetts. These sales were up about 39% in Connecticut and about 37% in Massachusetts in May 2010. As reported in one of the articles, this was “…the sharpest increase in sales year-over-year for the month of May in more than two decades…” from the latest report by The Warren Group, publisher of The Commercial Record. Some of this increase was certainly attributable to the First Time Home Buyer Tax Credit, but the Warren Report also expressed the opinion that pent-up demand from buyers who had been delaying buying a home because of concerns about the economy or job security had also added to the surge. A good number of the buyers in our area-for retirement, vacation, or even relocation-do come from Connecticut and Massachusetts. This news would indicate that these buyers may be feeling more confident about pursuing purchases in New Hampshire and that will be good news for sellers. Source of Information: a Regional Spotlight article posted in RISMEDIA, June 30, 2010 and June 25, 2010