September 2009 – The New Hampshire Real Estate Market
by Michelle on October 19, 2009
in NH Real Estate Market
I absolutely believe that the absorption rate is one of the most important stats to look at … and it is looking good! Hillsborough County is down to a very respectable 8.4 months! Considering that six months ago we were seeing counties with absorption rates in the 30s, this is pretty impressive! Rockingham County is a 10.7, Strafford County is 11.4, and New Hampshire as a whole is at 12.3 months. Not too bad! Coos County currently has the highest rate at 20.3, with Carroll and Belknap Counties just under it at 19.7 and 18.4.
July 2009 – The New Hampshire Real Estate Market
by Michelle on August 13, 2009
in NH Real Estate Market
And, most importantly, the Absorption Rate. I absolutely feel that this is the most important number to look at, and the rate is down across the entire state! The rankings have not changed… Carroll and Coos still lead the pack with 28.5 and 27.4 months, and Hillsborough is still the lowest with an almost-respectable 12.9! Maybe we will see a single digit rate in a few months… ?
Absorption Rate over Time:
Good news all around!
by Michelle on August 5, 2009
in NH Real Estate Market
June 2009 – The New Hampshire Real Estate Market
by Michelle on July 21, 2009
in NH Real Estate Market
Well, it is officially summer! It will be very interesting to see what the summer real estate market will have in store for us.
Quick Stats:
As usual these days, there are plenty of active listings to go around. Both Carroll and Belknap active listings are up about 7% over last month, but that is to be expected with new listings coming on for the summer. Carroll County had a relatively strong month with Pendings increasing 7% and closings increasing 35% (woot, woot!!), while Belknap did not do quite as well with Pendings down 15% and closings down 10%. Come on Belknap, stay with us!
Average Sales Price:
The Average Sales Price in Carroll County is down to $169,900. It was $179,000 the prior month and $200,500 this time last year. Average Days on Market:
This year Carroll County is quite sporadic with regards to the average time on the market. As you can see it has been quite up and down for the past few months. This month`s downward trend is a good sign… let`s hope it continues!
Absorption Rate:
And…the ever important absorption rate. Carroll and Coos still have the highest rates with 29.5 and 28.6 months of inventory on the market, respectively. Hillsborough County once again has the lowest rate with 14.2 months.
The rates are up pretty much across the board. I would like to think that it is because of the influx of new spring/summer listings. We shall see!
Statistics Copyright 2009 Northern New England Real Estate Network, Inc. The reproduction of these statistics is done with the permission of NNEREN. The statistics referenced herein are based solely upon listings submitted to the multiple listing service database of NNEREN and do not include all properties sold and marketed for sale. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. Any analysis or commentary related to these statistics is that of the commentator, and not that of NNEREN.
The State of the Nation`s Housing 2009 – Harvard University
by Michelle on June 23, 2009
in NH Real Estate Market
The Joint Center for Housing Studies at Harvard University just released the `The State of the Nation`s Housing 
2009.` If you enjoy facts, figures, statistics and charts galore like I do, this 44 page doozy is a great source of information! They do not paint a very pretty picture of the housing market, but I think most of us would have been mighty surprised if they had found differently.
If you are so inclined, the entire report can be found here. Otherwise, I have summarized some of the more important points for you.
THE MARKET:
• New home sales have dropped about 60% from 2005 to 2008
• Existing single-family home sales are at the lowest level since 1997. In April of 2008 there were 4.85 million sales, while in April of 2009 there were 4.68 million.
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• There were 81,900 manufactured housing units shipped, the lowest number since 1959 when record keeping began.
• Homeowner vacancy rate hit an all time high of 2.7 percent. Homes built since 2000 had a vacancy rate of 9.7 percent.
FORECLOSURES:
• 3.9 percent of one- to four-family loans was in foreclosure. 8.8 percent were at least 60 days past due, which means that they are well on their way to foreclosure.
• 3.2 million homeowners entered foreclosure in 2007 and 2008, and 600,000 entered foreclosure in just the first quarter of 2009.
• 14 million households were upside-down in their mortgages in March of 2009.
• Foreclosures accounted for 30 percent of existing home sales in the 4th quarter of 2008 and short sales accounted for an additional 15 percent.
• 46 percent of the national total of foreclosures are in California, Arizona, Nevada and Florida.
• Of the loan modifications that lowered payments by 10 percent and more, 1/5 were at least 60 days delinquent within 60 days.
FINANCING:
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• 74 percent of the loans originated in 2008 were guaranteed by a federal agency, Fannie Mae, or Freddie Mac.
• FHA and VA originated 7 percent of loans in the fourth quarter of 2007, and 34 percent of the loans in the fourth quarter of 2008.
• A household that could have qualified for a $482,000 loan in 2005 could only be approved for $277,000 now.
HOME AFFORDABILITY:
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• The number of households that pay more than 1/2 of their income to housing jumped from 13.8 million in 2001 to 17.9 million in 2007.
• Nearly 1/2 of working age households with incomes 1 to 2 times the federal minimum wage spent more than 1/2 their incomes on housing.
• NO household earning minimum wage can afford a modest two bedroom apartment anywhere in the United States.
OTHER GOODIES:
• If every home was as energy efficient as homes built since 2000 have been, residential energy consumption would drop 22 percent!
• Between 2001 and 2007, $874 billion of home equity was cashed out to pay off non-mortgage debt.
WHAT DOES THAT MEAN FOR US IN NEW HAMPSHIRE?
Housing is a LOCAL phenomenon. Here in New Hampshire most of us have been lucky enough to escape the brunt of the housing downturn. Is it the opportune market to sell in? No, not really. Is is still a great time to buy? Yes, of course!
The market will return. We should feel blessed that did not see the downturn that California and Florida had. I am certain that next year`s Housing Report will be a bit more uplifting!
