New Hampshire Homeowners Making Bank Selling Their Homes
With the number of houses running low, many in the Granite State continue to make a sweet penny on their piece of the American dream.
The demand to buy, coupled with a low inventory of homes isn't anything new to New Hampshire. However, as reported by WMUR-TV, the window to sell may be closing a bit. Realtor Jim Lee said “I'm seeing a lot of price-reduction flyers come through now, so that tells me the days of putting a sign up in the yard and getting out of the way to avoid getting trampled by a herd of buyers may be slowing down a little bit." These are reportedly with larger homes, and the market for those less than $300,000 is still sky high.
The homeowners market does directly affect the rental market, and not in a good way for the renter. According to WMUR, there is 98% occupancy with rentals here in New Hampshire, with an even smaller percentage for two-bedroom units. This compares to a 95% percent vacancy in the Northeast.
New construction eases the pinch, but thus far, has not been enough.