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Moody’s Analytics economists report that the Great Recession is technically over. Good news even if many of us are not feeling the effects quite yet. New Hampshire is so lucky to have 92.8% employment and real estate transactions have begun to rise over 2008 during the past five months. Even home prices are starting to stabilize and the prediction is that home prices will actually rise in 2010. New Hampshire has been way luckier than most states in the region in loss of value in homes. Several states have seen the value of their real estate decrease by a whopping 50%. Here in New Hampshire prices are expected to bottom out at about 20 to 25% below the peak prices of 2005.

The expanded tax credit has a lot to do with this recovery. For home sellers the extension of the credit signals it is time to sell that home you have been living in for the past 5 out of 8 years and step up to a new one. And for first time home buyers it signals a time to buy when prices are at their most affordable and interest rates are still low. And for both sellers and buyers this signals that owning a home in New Hampshire is an investment in granite. 

Average selling price in Rockingham county is now 5,194 and properties are selling with 95% of list price. Nationally 60% of all sellers took at least one price reduction according to the National Association of Realtors 2008 Profile of Home Buyers and Sellers. And average days on market to sell those homes was 130 days. 2,073 single family homes have been sold in Rockingham county between 1/1/09 and 11/19/09. That’s 2,073 homes in 323 days or 6.4 homes SOLD every day!

And in Strafford county is 7,280 is the average selling price. Single family homes are selling within 96% of list price in an average of 139 days. During this same time frame, 738 homes have sold or 2.27 homes SOLD every day this year!

The real estate market in New Hampshire is becoming robust again but in the mean time understand that people are buying and selling homes every day! So why not get into the game and start pursuing your real estate dreams. Let’s keep the granite state rock solid. The Real Estate Seacoast Team is ready at any time to get you moving in to the right home.