Here are my thoughts about some of the latest real estate headlines.
I’m back with another update on the New Hampshire Lakes real estate market as we head closer to the end of the year. I’m going to look at all of the latest headlines and give my thoughts based on what I’m seeing out in the market every day:
“New Single-Family Home Sales Show Housing Had Blockbuster Month” - More like a blockbuster year! The market has been on fire. Lots of buyers; not that many sellers.
“Bidding Wars Get Brutal as Buyers Chase Dwindling Supply” - Tell me what else is new.
“Rural Home Prices Jump 11%” - I wonder why. Could it be because low interest rates are giving buyers more purchasing power, and many of them are wanting to get out of the cities and into nature where they can work remotely?
“As Good as It Gets for Home Sellers: New Median US Home Price Record” - Prices in New Hampshire have increased between 15% and 20% just since January.
“New Home Sales Break $1 Million Mark for the First Time Since 2006” - Finally, the builders are getting into the game and constructing some homes.
“Homebuyer Migration Rates Reach Highest Level Since 2017” - People might be leaving places like Florida and California to come to places with more temperate climates.
“Majority of Young Adults Now Live at Home With Their Parents” - I have a son living with me so I know that’s true. We get along most of the time.
Finally, a word of caution: Many U.S. regions are experiencing a surging real estate market according to the CEO of Knock, but he believes it will be short-lived and the market could start to slow as early as October. I’ve seen a bit of a downtick in activity in the last week, so it’s something to watch for sure.
If you have questions for me about these headlines or anything else you’ve heard about our real estate market, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.