2 New Hampshire Cities Are the Hottest Real Estate Markets in the US
As the shortage of inventory continues, the demand for housing continues. The struggle continues throughout a good majority of the country. However, there are two markets that appear to be most in demand.
According to realtor.com, list prices on homes in their list of the top 20 markets have increased 3.8% over the last year, whereas the rest of the country did not change much, with the slightest increase reported of 0.3%.
Realtor.com, one of the top home search sites, used a formula by using the number of unique views per property, along with the number of days a listing remains active on their site.
The data revealed that Manchester and Rochester appear to be the hot spots where homebuyers are currently searching the most. They also revealed that these results are nothing surprising, as the Manchester-Nashua market has been in the top spot more than six times over the past year.
If you're a homebuyer looking in that market, this article probably isn't easing the stress that you've been going through. But hold on, there appears there could be good news.
Hannah Jones, an analyst from realtor.com, revealed that the price growth in homes is the lowest its been since August of 2021, suggesting that slowing price increases is affecting even the most in-demand markets.
While looking over their list of the hottest markets in the country, it appears that New England continues to be one of the major hot spots in the country, with three markets in Massachusetts, as well as one in Rhode Island and Connecticut, all ranking in the top 10. This shows that New England territories make up 80% of the top 10 hottest markets.
You can check the entire list here.
As a realtor, I tell my buyers to keep the faith, and we will find them something at some point. In this market, you just need to get creative with your offers and be willing to make some sacrifices.
For example, moving a little further away from your workplace than you had originally intended. Or what about that dream home that needs to have a garage? Well, is there enough room on the property to build one at a later date? Ultimately, the buyers willing to make small sacrifices and open to more flexibility are the ones that win. If you're not able to be more flexible, then be patient. Your time will come.
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