Posts made by author 'Andy Smith'
August
7
7
Summer 2023 Market Watch
Summer is upon us, and the temperatures are heating up. However, the real estate market is a little cooler than normal this time of year due to the combination of extremely low inventory and higher borrowing costs, which has restricted the market activity going into traditionally strongest part of the selling season. New Hampshire is faring much better than the national market, with the National Association of Realtors reporting that home sales nationally are down 20.4% at the end of June, while NH is only down 7.2% year over year. This tight supply has kept prices trending upward, with the median home price hitting an all-time high of $499,000, a whooping 8.5% increase over the same period last year!