Thu August 23, 2012
Housing Market Shows Signs of Life
New housing data released today show a continued upswing in residential sales. Twelve-hundred-and-sixty homes were sold in July. That’s a jump of about 20% from a year ago.
John Rice with NH Association of Realtors believes that with sales on the upswing, housing prices may be starting to turn the corner.
“If they are not as low as they are going to get, they’ve got to be close to it," says Rice.
The median sale price in July was $215,000, basically the same as it was in 2011.
A glut of foreclosed properties continues to drag down housing values. But Rice says that with the rate of new foreclosures in the state starting to slow, homeowners looking to sell should be more optimistic.
“It’s still a buyer’s market, but the pendulum maybe swinging the other way.”
Coos County continues to have the lowest prices in the state. The median value last month for homes sold was $89,000.