The housing market seems to reflect what hardy stock we New Englanders are! Despite all the snow and freezing weather, home sales are up from last year. In the 9 area towns from 1/1/ to 3/30/15, 53 homes sold with a median selling price of $223,000 as compared to the same time period in 2014 where 39 homes sold with a median selling price of $208,500. This follows a national trend as pending home sales showed solid gains driven by an improving labor market, mortgage rates hovering around 4%, and more renters entering the market due to increasing rents, according to Lawrence Yun, National Association of REALTORS® chief economist. Statewide, prices have also increased; mainly due to the lack of inventory. February reached a more than 10-year low, at 7 months supply.   Our area also has limited supply at the moment. For example, Sunapee currently has 46 homes for sale. Given that 56 homes sold in 2014, right now there are not enough homes to fulfill buyer demand. I think we can now be optimistic about our spring market with the expectation of slightly higher increases in prices and sales!   Contact me if you want to find out how the market has impacted your home value.  603-526-4116, donna@donnaforest.com, www.donnaforest.com. Figures are based on information from the Northern New England Real Estate Network, Inc. for the period 1/1/15 thru 3/30/15 and 1/1/14 thru 3/30/14.

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