NHAR has compiled year-over-year statewide and county residential housing sales data beginning in 1998, and has, since March 2009, provided monthly reports to our membership.
In 1998, the statewide median price for a single-family residential home was $127,500. That number rose to $270,000 in 2005, a remarkable 112 percent increase, after which we witnessed a drop to $202,000 over the next seven years — part of that being the collapse of the subprime mortgage market caused by defaults on high-risk housing loans.
Prices have been steadily climbing ever since 2012, and though housing market fundamentals are not comparable to those which prompted the recession, the steady increase in median price — rising to $395,000 in 2021 and heading for well over $400,000 in 2022 — has created an affordability and availability crisis, particularly among the first-time homebuyers so essential to a strong workforce and a healthy New Hampshire economy.
"Amidst the sea of change to which the New Hampshire Association of REALTORS has played witness in its 85 years, one thing that has remained constant is the Realtor 'R' and the value we bring to every real estate transaction in which we take part. We are part of a unique community where our familial cooperation transcends our business competition. These are not mere platitudes, but our living ideals, and they are, in fact, the foundation on which we conduct ourselves in our day-to-day affairs."
Ben Cushing, 2023 President, New Hampshire REALTORS