New Hampshire Real Estate Market Outlook

So far, the Granite State is still showing signs of minimal impact from the recessionary economy. New Hampshire’s economy is grounded on manufacturing and tourism. The slowdown may have been inevitable but lay offs are not as severe as other states’ job cuts. More so, start-up companies are growing in number with plenty of room for Baby Boomers’ to invest in. Even the property market is resistant. Foreclosures haven’t risen as fast as that of California’s.

Manchester’s home sales are slowly picking up the glut of housing supply in the market. Most foreclosures are bargain choices and buyers are taking advantage of the cheap costs despite the need for renovation. Last year, the Queen City experienced a massive 21 percent drop in home values. This year however, RealtyOutlook.com only expects a 9.5 percent defation.

Portsmouth’s real estate market is also in a sorry state. Buyers are ready to pick up clear properties from the high inventory in the area. The market is forecasted to have home values lowered by 7.5 percent this year.

Concord, an insurance and health care hub, has tanked in the real estate market since last year. While the cost of living is on the average, homebuyers are hard to find as the recession limits their finances. Sales will remain slow throughout the year and home prices will fall by 9.5 percent.

Dover’s scenic landscapes are attracting potential residents. It’s a far cry from the urban jungle of Manchester but many have fallen for this quaint city in Stratfford County especially the retirees. The high foreclosure rate is putting a downward pressure to the average home values. RealtyOutlook.com forecasts a 6 percent deflation this year.

Nashua positioned itself as a commuter town for Boston’s workforce for a long time. However, the credit crisis brought down a significant portion of Boston’s technology and financial firms. Nashua’s real estate market has been cooling since then.  RealtyOutlook predicts a 10 percent fall in home prices this year.