Portsmouth NH and Seacoast housing market begins a recovery.

Nathanial Drive, Exeter NH

According to the latest housing data from the National Association of Realtors (NAR) housing in general is beginning to recover.

New Hampshire’s seasonally adjusted home sales rate is up 16.7% year to date.

Lawrence Yun, NAR chief economist, said the market is holding fairly even. “Home sales need to recover first – only then can prices stabilize. Existing-home sales are little changed from the second quarter but are notably higher than a year ago,” he said. “The good news is inventory levels have been trending gradually down.”

The one stumbling block in the road to recovery is a continuing fragile consumer confidence.

Fortunately the Granite State is doing a bit better than some. The University of New Hampshire published their latest Business and Industry Association (BIA) of New Hampshire Consumer Confidence Index in late July which revealed: “New Hampshire consumers remain divided about the shape of the short-term future of the state’s economy. When asked how they believe New Hampshire businesses will do over the next year, 36% of Granite Staters think local business will enjoy good times financially, 32% think they will experience bad times, and 32% foresee mixed conditions.”

Personally I believe 2012 will see a continued improvement in our New Hampshire housing market contingent on consumer confidence at least staying at current levels. 30 year fixed rate mortgages have now dipped below 4% which hasn’t been seen since the 1950s!

My partner Ann Cummings and I have helped a number of buyers and sellers realize their housing goals so far this year and look forward to helping even more in 2012.

Visit New Hampshire Maine Real Estate to see all the Realtor listings in both Maine and New Hampshire. We specialize in the NH Seacoast & southern Maine areas and would love to talk with you about buying, selling, or both.

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