According to N H Business Review, for two years in a row now, sales of single family homes fell by double digits. This year it was to the tune of 10.3%
NAR reports that the real numbers translate to 16,263 in 2005, 13,364 in 2006 and 11,989 in 2007.
The Median Sale Price fell 1.6% and is now showing as $260,800 in 2007 from $270,000 in 2005.
These Figures Appear Dire.........but
Take note that Median Residential Prices between 1998-2007 went from $127,5000 to $254,702.
This was an average increase of 11.7%/year.
So....while we may be experiencing a decline, I seriously doubt that this decline will be severe enough or even long enough, to offset what were historical gains!
Now That's A Good Thing!!
Concord New Hampshire Realtor Area Information
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Joan Mirantz - Joni is a Realtor® with Keeler Family Realtors, a locally owned, Customer Service oriented Firm.
Joan Publishes a monthly Newsletter "Food For Thought" under the pen name Realtor Sherpa.
(Joan also answers to Miz Maven and Miss Joni.)
Joan works in Buyer and Seller Representation with concentrations in the Merrimack Valley Area and towns surrounding Concord NH - the Capital City.
"I love what I do, and it shows in how I do it"
If one can't take the down side they should not have taken the upside, how about the sideways.
Take care!
RJH
Hi Joan,
The mainstream media does not want folks to do the math. If we did, then there would not be panic and anxiety all over the place.
People are ignoring the numbers. If a home has increased by 30% over the past 10 years and now has declined 7%, they are still ahead of where they were. But teaching the populous to do the math won't sell newspapers or get TV ratings.
Good point, Joan.....I agree with you. It's amazing how high they rose in that short time period.
Jo
Way to tell it! Consumers are hearing so much negative that I think perhaps they only see the decline which does not portray the whole story.
Hi Joan
I am with you. The market is bouncing back.
Sincerely
Tom Braatz
Joan, you are absolutely right when considering the gains. For those that enjoyed (without spending) the windfall, they are still in a terrific position to sell.
I was tempted to comment "what bubble?", but things are too unpredictable to laugh just yet...the time will come. Let's celebrate by buying a big, fat diamond (cheaper).