New Hampshire housing market favoring sellers despite rising interest rates

The pandemic has increased the ability for people to work from home, which has made it easier for people to move somewhere new.Realtor Kami Zink said people throughout New England have been moving to New Hampshire.”New Hampshire’s prices for real estate are still a lot lower than those communities and those states that they are coming from, so you are seeing they have more spending power,” Zink said.Zink said this makes New Hampshire a seller’s market. She said houses priced properly are getting multiple offers.”The buyers out there, you want to be prepared that you are probably going to have to go higher than asking price and really work to get those offers accepted,” Zink said.Now, interest rates are on the rise, according to certified financial planner Marc Hebert. “The reason that it is significant is it affects a lot of different things: mortgage rates, consumer debt, car loans,” Hebert said.Hebert said mortgage rates follow the yields on U.S. Treasury notes. The 10-year note in July 2020 was at .58%. In January 2021, the note is at 1.77%.Despite the increase, Hebert said prices might not budge.”The reason real estate prices are so high in New Hampshire and across the country is because supply and demand,” Hebert said.

The pandemic has increased the ability for people to work from home, which has made it easier for people to move somewhere new.

Realtor Kami Zink said people throughout New England have been moving to New Hampshire.

“New Hampshire’s prices for real estate are still a lot lower than those communities and those states that they are coming from, so you are seeing they have more spending power,” Zink said.

Zink said this makes New Hampshire a seller’s market. She said houses priced properly are getting multiple offers.

“The buyers out there, you want to be prepared that you are probably going to have to go higher than asking price and really work to get those offers accepted,” Zink said.

Now, interest rates are on the rise, according to certified financial planner Marc Hebert.

“The reason that it is significant is it affects a lot of different things: mortgage rates, consumer debt, car loans,” Hebert said.

Hebert said mortgage rates follow the yields on U.S. Treasury notes. The 10-year note in July 2020 was at .58%. In January 2021, the note is at 1.77%.

Despite the increase, Hebert said prices might not budge.

“The reason real estate prices are so high in New Hampshire and across the country is because supply and demand,” Hebert said.

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