NH Home Sales Recovery 2011

NH Home Sales Recovery 2011

Peter Francese of NHAR (New Hampshire Association of Realtors) has reported that New Hampshire real estate is poised for a 2011 recovery.

He indicates prices have stabilized in most of the State and second home activity has seen an increase around the State.

He further reports, "Measuring by the Philadelphia Federal Reserve Bank's index of economic activity, New Hampshire is recovering from this recession better than any other state.

The index indicates an improving economy. By this measure, NH is recovering from this recession better than any other state. NH's index is 189, which is at a two year high and is now the highest index among the 50 states. By comparison, the average for the other New England states is 150, which is also the national average."

One other important indicator is our unemployment rate, which was 5.4 percent in November. That was the fourth lowest rate in the nation but is probably below 5 percent by now.

Our state is clearly moving toward a period of economic growth that can only be good news for our housing market." Francese reported.

Most real estate professionals that I have spoken with in NH seem to feel we will see an uptick in sales activity in NH in 2011. Everything seems to point to a NH home sales recovery in 2011. We won't see boom years again for quite a while, but based on pentup demand, growth in employment and consumer confidence, 2011 should be a stronger year in terms of NH real estate sales.