The inventory and affordabilty crisis remained the preeminent New Hampshire real estate storyline in January.
There were just 1,290 single family residential housing units on the market at the end of the month, amounting to just over a month's supply of inventory.
As a result, the affordability index dropped 23 percent from a year ago to 76, meaning the state's median household income is just 76 percent of what is necessary to qualify for the median-priced home under prevailing interest rates. By comparison, the affordability index in January 2013 was 210.
The weight of the affordability crisis seems to be having an impact on New Hampshire buyers, as there were just 626 homes sold in January. That's a drop of 29 percent from a year ago and the lowest number of January sales in over a decade. It also marked the 19th consecutive month that sales have decreased compared to a year prior.
For NHAR's full slate of market data, including our Monthly Indicators report and detailed county- and town-level reports, visit our FastStats landing page.
Questions? Please email Vice President of Communications and Member Engagement Dave Cummings (dave@nhar.com), or call 603-554-7855.