The number of September residential sales in New Hampshire dropped by 30 percent compared to a year prior, and affordability remained at a low point as the median price of those sales hit an all-time September high at $490,000.
It has been more than two years since the state saw an increase in year-over-year monthly sales, and the string of consecutive median price increases dates back to February 2020, a span of 43 months.
The New Hampshire affordability index was 59 for the second consecutive month, equaling the lowest point in NHAR's recorded history and a 15 percent drop from September 2022. That means the state's median household income is just 59 percent of what is necessary to qualify for the median-priced home under prevailing interest rates.
While inventory remains low and a primary driver of the affordability crisis, months' supply ticked up slightly, increasing by 11 percent to 2 months' supply, and new listings were ahead of last September by 2 percent – the first year-over-year increase since May 2022 and only the second increase in the past 25 months.
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