A Quick Update on New Hampshire’s Housing Market

Here’s what you need to know about the state of our housing market.

What's happening in New Hampshire’s real estate market? It's been the same story for a while now: There's hardly any houses for sale, and prices keep going up. 

In 2023, home values increased by 6.8%, so if you bought a house in the beginning of the year and held onto it, you made some decent money. Right now, investing in real estate seems like a safe place to put your money.

Despite increasing home prices, the total number of sales actually decreased last year by a whopping 19.1%. That's probably because fewer people wanted to buy with higher interest rates. Meanwhile, homeowners with low mortgage rates from before didn't want to trade them for higher ones, so they stayed put.

"More buyers will enter our market once interest rates fall. "

Hopefully, 2024 will bring some lower interest rates, which could bring more buyers back to our market. For now, there aren't many houses to choose from, so it's a great time to sell. Even though it's competitive for buyers, we're still seeing offers accepted with conditions, like inspections and certain types of loans.

So, is it the right time for you to buy or sell a home? We're here to help you figure that out. Just give us a call or send us an email. We’d love to help you move whenever you’re ready.