Thu July 5, 2012
New Hampshire Housing Market Continues Gradual Recovery
New data from the New Hampshire Housing Finance Authority suggests the state’s housing market continues to show signs of a slow recovery.
The number of New Hampshire homes sold in May of this year jumped up from 2011-levels. That’s good. The bad news is that the average price of those properties is down two-point-four percent from a year ago, falling to $205-thousand dollars.
The 351 new foreclosures in May probably won’t help. Until the glut of properties on the market clears up, housing prices will remain low.
According to Dan Smith with NH-Housing, the market is moving in the right direction, it’s just taking its time getting there.
He says one key stat to watch is the jobless rate.
The unemployment rate is down, but it will take a number of months for households to regain financial security.
The number of homeowners behind on payments is at a four-year low.