New Hampshire home prices flat, sales up sharply in July
July 2011 housing market data from the New Hampshire Association of REALTORS® Director of Communications, Dave Cummings.
New Hampshire residential home sales rose substantially in July 2011 compared to July 2010, but the state’s Realtors stressed the same message they had been offering in prior months, when the news hadn’t been as good: Don’t consider any of it a trend just yet.
Statewide, 1,048 homes were sold in July, a 29 percent increase from the 811 that were sold in July 2010, according to data released this week by the New Hampshire Association of REALTORS (NHAR). Those homes sold at a median price of $216,000 this year, 2 percent below the $220,000 of July 2010.
The sharp increase in sales was due in part to the significant drop-off in sales of last July, which came immediately following the expiration of the $8,000 home buyer tax credit incentive.
Just as 2011 home sales through June were light compared to sales impacted by the tax credit rush through June 2010, the July 2011 sales looked strong compared to a relatively light July 2010.
“We’ve said for some time that year over year numbers won’t really tell us much until we’re completely clear of any comparisons impacted by the tax credit,” said NHAR President Tom Riley, a 35-year veteran of the real estate industry and president of Riley Enterprises in Bedford. “The further along we get in the year, the more relevant and telling these comparisons become.”
In general, Riley said, the housing market remains an issue dictated by consumer confidence. “Housing remains one of the best long-term investments available,” he said. “That hasn’t changed. What has changed is that consumers in general are feeling less secure with regard to the economy, and in many cases their own personal circumstances, and when that happens people are more likely to stay put.
“We certainly respect that, but it’s also important to point out that for those who are in a position to move, buying conditions are excellent.”
In local markets, July unit sales increased in nine of 10 counties (and stayed the same in Carroll County), while six of 10 counties saw an increase in median price, one remained unchanged, and three experienced declines.