Affordability at All-Time Low: September Market Update

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October 11, 2022

Another Affordability Drop

The September housing market report

The median price of a single family residential home in New Hampshire was $440,000 in September, a 10 percent increase from last year and the highest September price number in New Hampshire history.

The year to date median price remains historically high as well. At $445,000 through the first nine months combined, that’s 13 percent higher than 2021, which had been the highest ever to that point.

Closed sales, meanwhile, were 11 percent below a year ago in September and 14 percent lower than year to date 2021. It marks the 15th consecutive month that sales have decreased compared to a year prior.

Inventory in New Hampshire remains scarce. The 2,171 single family residential homes for sale at the end of September is a 5 percent drop from a year ago and provides just 1.7 months’ supply of inventory. A balanced market is considered to be roughly six or seven months’ supply.

Affordability, meanwhile, hit an all-time low in September, with an index of 69, which means the state’s median household income is just 69 percent of what is necessary to qualify for the median-priced home under prevailing interest rates.

For the detailed September 2022 Monthly Indicators report, click here. For our full slate of market data, including detailed county- and town-level reports, visit our FastStats landing page.

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