How's the Housing Market Doing?
Statistics released near the end of September by the National Association of REALTORS® show that US home sales are up 6.2% and the median sales price is up 4.7% to $228,700 from a year ago (for the period 1/1/15 to 8/31/15). We are seeing a similar trend in NH as the New Hampshire Association of REALTORS® reports closed sales through August up 10% and the median sales price up 5.3% to $241,115 from 2014. Of course not every market area is identical, so I looked at the combined data for our 12 area towns through September and found home sales up 6% (331 homes sold vs. 312 in 2014) and the average sales price almost the same as last year’s at $352,158. Most of the towns saw an uptick in sales compared to 2014 with a handful behind (New London and Springfield for example). Currently there are over 500 homes for sale with the average days on market running about 178 days. Whew, lots of numbers, right? Bottom line, the housing market remains steady with the expectation for home sales and pricing to rise. Continued gains in employment, wage growth, and low mortgage rates will likely support a price appreciation of 4.3% in 2016 according to CoreLogic’s October release. Whether buying or selling, contact me to find out how the market impacts you! 603-526-4116, www.donnaforest.com, donna@donnaforest.com Figures are based on information from the Northern New England Real Estate Network, Inc. for the period 1/1/14 thru 9/30/14 and 1/1/15 thru 9/30/15.