Realtors warn of competitive housing market in NH

New data shows that a growing number of Massachusetts residents are moving to the Granite State. If you’re looking to buy a home in New Hampshire, realtors say you should be preparing for a long haul because the market is extremely competitive. They say that’s because an influx of out-of-state buyers have been moving to New Hampshire. Data from the IRS shows that between 2019 and 2020, 20,000 people from Massachusetts alone moved to the Granite State. Realtors said the relocations haven’t stopped since. “The last two weekends, I have helped some of my agents conduct open houses and there has been a steady stream of people from Massachusetts coming up,” said Maggie Kerkoff, realtor for Berkshire Hathaway HomeServices Verani Realty. Realtors said COVID-19 caused many people to pick up their lives and start over, and New Hampshire was a great place for them to do that. “People like the lifestyle up here,” Kerkoff said. “They like what New Hampshire has to offer for living and raising families.” Sales prices are up about 4% from this time last year, but Tom Bolduc, a realtor with Keller Williams, said the real problem is with inventory — there’s just not enough homes to keep up with the incredible demand. We saw a blip up into the sevens,” Bolduc said. ” In October, November, past fall, we’re still seeing in the entire state of New Hampshire, we have under 1,000 homes for sale in the entire state. So, we are extremely low inventory.” Although Granite Staters might have luck selling their home, if they plan to stay in the state, they might have trouble. “If I’m going to sell in New Hampshire and buy in New Hampshire, it’s a double edged sword,” Bolduc said. “You’re probably going to do well on the sell side and you’re going to be in that pool of everybody struggling to find a house on the buy side,” Bolduc said. Realtors said the market will likely be this competitive for at least another year. Bolduc said he believes the market will eventually stabilize. “I don’t see prices crashing. I think we’re gonna we’re going to appear to be in this for a little bit longer,” Bolduc said. “I think prices are going stabilize and we’re going to still see it’s all supply and demand driven. And where we have very low supply, the prices can’t just crash. There’s too much demand still. So we’re still we’re still going to be in this kind of market throughout this year.” If you’re looking to buy, realtors said their best advice is just to be patient because it could take multiple offers until you find yours dreamhome.

New data shows that a growing number of Massachusetts residents are moving to the Granite State.

If you’re looking to buy a home in New Hampshire, realtors say you should be preparing for a long haul because the market is extremely competitive.

They said that’s because an influx of out-of-state buyers had been moving to New Hampshire.

Data from the IRS shows that between 2019 and 2020, 20,000 people from Massachusetts alone moved to the Granite State.

Realtors said the relocations haven’t stopped since.

“The last two weekends, I have helped some of my agents conduct open houses and there has been a steady stream of people from Massachusetts coming up,” said Maggie Kerkoff, realtor for Berkshire Hathaway HomeServices Verani Realty.

Realtors said COVID-19 caused many people to pick up their lives and start over, and New Hampshire was a great place for them to do that.

“People like the lifestyle up here,” Kerkoff said. “They like what New Hampshire has to offer for living and raising families.”

Sales prices are up about 4% from this time last year, but Tom Bolduc, a realtor with Keller Williams, said the real problem is with inventory — there’s just not enough homes to keep up with the incredible demand.

“We are extremely low inventory, and it is still very much a seller’s market, even with the rise in interest rates we saw. We saw a blip up into the sevens,” Bolduc said. ” In October, November, past fall, we’re still seeing in the entire state of New Hampshire, we have under 1,000 homes for sale in the entire state. So, we are extremely low inventory.”

Although Granite Staters might have luck selling their home, if they plan to stay in the state, they might have trouble.

“If I’m going to sell in New Hampshire and buy in New Hampshire, it’s a double edged sword,” Bolduc said. “You’re probably going to do well on the sell side and you’re going to be in that pool of everybody struggling to find a house on the buy side,” Bolduc said.

Realtors said the market would likely be this competitive for at least another year. Bolduc said he believes the market will eventually stabilize.

“I don’t see prices crashing. I think we’re gonna we’re going to appear to be in this for a little bit longer,” Bolduc said. “I think prices are going stable and we’re going to still see it’s all supply and demand driven. And where we have very low supply, the prices can’t just crash. There’s still too much demand. So we’re still ‘re still going to be in this kind of market throughout this year.”

If you’re looking to buy, realtors say their best advice is just to be patient because it can take multiple offers until you find your dream home.

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