Housing Market Report Data Show Continued Demand for Housing in Most Areas of State
BEDFORD, NH – The most recent data in New Hampshire Housing Finance Authority’s new Housing Market Report reflect an ongoing demand and need for single-family and rental housing to keep pace with the state’s strong economy and low unemployment rate.
In addition to providing information on housing affordability, home sales, and the state’s rental market, each NHHFA Housing Market Report presents essays on various facets of the state’s housing market, and how they impact New Hampshire’s economic prosperity.
In this edition, economist Russ Thibeault debunks the often-presented argument that building new housing in a community will over-burden local schools. Thibeault offers data that show why New Hampshire communities should embrace growth and new housing development, based on our state’s demographics and economic needs. His essay highlights the underlying reasons to encourage the development of sufficient housing to meet the needs of our growing workforce and all of our citizens.
Data from this NHHFA Housing Market Report reflect:
- An employment rate below 3% (essentially full employment) for over 40 months
- A strong economy and employment opportunities to draw new workers to the state
- Affordability pressures on would-be homeowners and renters in most of the state
- A low inventory of homes for sale, particularly below $300,000
- A median MLS sales price of $300,000 in NH, the highest ever
- The vacancy rate for apartments around the state is below 1%
- New housing construction is lagging in the state (as reflected in housing permit data), and is not meeting demand or on track with activity in the rest of the country
About New Hampshire Housing: As a self-supporting public corporation, New Hampshire Housing Finance Authority promotes, finances and supports affordable housing. NHHFA operates a number of rental and homeownership programs designed to assist low- and moderate-income persons with obtaining affordable housing. Since its inception, NHHFA has helped more than 46,000 families purchase their own homes and has been instrumental in financing the creation of almost 15,000 multi-family housing units.
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