Housing Sales Up, But Prices Remain Flat
New housing data suggests the New Hampshire market may be stabilizing, even while residential prices remain low.
The median sale price last month was $210,000. That’s the same price from August 2011--a signal that the number of houses for sale continues to outpace demand.
But a report from the New Hampshire Association of Realtors says the number of units sold is up more than 20% from last year. And gains are being seen in each of the state’s ten counties.
Ned Redpath with Redpath Realtors says the market is experiencing something he hasn’t seen for a while.
"Consistency, and we haven’t seen consistency for 5 or 6 years. No booms and no busts. Pretty much a straight line of pretty exciting business."
Redpath points to record low mortgage rates as the key driver of the turn-around.