The 559 single family residential homes sold in February was the lowest of any month since February 2010, as the inventory crisis continued to take root in the New Hampshire housing market. It marked a 20 percent decrease in closed sales from a year ago.
There were just 1,187 homes on the market in the state at the end of February, a slight increase since February 2022 but still the lowest number in a year and translated to only one month's supply of inventory. A balanced market is considered 5-7 months, a range not seen in New Hampshire since 2016 and prior.
Price, meanwhile, continued to climb to $425,000 in February, an increase of 5 percent over a year ago and the highest February in New Hampshrie history. As a result, the affordability index dropped 25 percent from last February to 72, meaning the state's median household income is just 72 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.
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.
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