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New Hampshire real estate

New Hampshire – Hoping for a Housing Market as Strong as Granite

During the Great Recession, New Hampshire residents were counting their blessings. After all, they didn’t sink into the hole that many other states did. All things considered, the Granite State handled the recession pretty well.

Now, if only they could get back on track.

Surprisingly, it’s been the aftermath of the recession that has been the hardest on New Hampshire. Industries that weathered the roughest parts of the economic storm – like health care and education – are suffering now that the rain has stopped. Instead of going down, New Hampshire’s unemployment rate spent the second half of 2012 going up.

So, what does that mean for the housing market here?

That’s the other surprise – houses for sale in New Hampshire haven’t suffered as badly as you might think. In fact, the number of sales in 2012 was up 20%, when compared to 2011. Realtors around New Hampshire say they sold more than 13,000 houses last year, which is comparable to what they were selling before the housing boom of the mid-2000’s.

Prices are up as well. So, just to look at things from a housing perspective, you’d be hard-pressed to notice that there was an unemployment problem here!

However, the jobs market is the one thing that’s preventing New Hampshire’s housing market from becoming as strong as granite.

Because some of its strongest industries are still struggling to recover, there has been a trickle-down effect. People have moved out of the state looking for work. As a result, there is less of a demand for newly-built homes, so the construction industry has taken a hit.

And since jobs are harder to come by, so are rental properties. Since work here has been uncertain, people are opting for apartments to rent, instead of buying houses. In fact, the apartments for rent in New Hampshire have become scarce and expensive, thanks to the surge in demand!

Experts say if more people were committed to the state for the long-haul, the housing market here would be on a much faster road to recovery.

In the meantime, though, realtors in New Hampshire are making do with what they’ve got – and what they’ve got right now is a sellers’ market!

Thanks to that drop in new construction, there is a low inventory of homes for sale around New Hampshire. So, thanks to basic supply and demand, sellers can afford to charge more for their homes. The end result is higher selling prices, higher home values, and a bigger incentive for other owners to list their own homes for sale.

It’s that cycle that’s going to get New Hampshire’s housing market operating back at full-speed – and as strong as granite once again!

Living in New Hampshire

Looking for a place to live where there is something exciting to do outside year-round? From camping and hiking to skiing and snowmobiling, there is something for everyone in New Hampshire.

Located in New England and founded in the 17th century, New Hampshire is conveniently bordered by Quebec to the north, Massachusetts to the south, Vermont to the west, and Maine and the Atlantic Ocean to the east. The White Mountains range is located in the north-central part of the state. In fact, New Hampshire is home to the tallest peak in the Northeastern states, Mount Washington, and several other large mountains – including Mount Madison and Mount Adams.

If you like winter weather, New Hampshire is the place for you! This state can see as much as 100 inches of snow per year! The summers are moderately warm, though, with average highs near 80 degrees and relatively low humidity. Fall is very colorful, attracting countless tourists.

But before you grab your outdoor gear and leave for New Hampshire, let’s go over some of the fast facts:

  • What is the population of New Hampshire?
  • The population of New Hampshire is 1,320,718
  • What is the capital of New Hampshire?
  • The capital of New Hampshire is Concord
  • What is the largest city in New Hampshire?
  • The largest city in New Hampshire is Manchester

New Hampshire is known around the world for the New Hampshire primary, the first nationwide party primary election held in the United States every four years. It’s also known for its agricultural outputs such as dairy products, cattle, apples and eggs – and its industrial outputs, such as rubber and plastic, machinery, electric equipment.

You can also save money by living here, thanks to the lack of a general sales tax and the fact that there’s no personal income tax at the state or local levels.

But enough about work and taxes! What can you do here in your free time?

If you’re a motorcycle fan, you’ll enjoy Motorcycle Week and the New Hampshire Motor Speedway. There are also plenty of summer motorcycle rallies. If you are looking for gorgeous mountain views, the Mount Washington Auto Road allows you to drive to the top of 6,288-foot Mount Washington to enjoy the magnificence.

All in all, it’s a magnificent place to live!

This is the Census data for New Hampshire

Population

Total population estimate for New Hampshire (July 1) 2012
1,320,718
Total population change for New Hampshire- April 1, 2010 to July 1, 2012
0.3%

Age

Percentage of the population that's under 5 years old in New Hampshire, 2011
5.1%
Percentage of the population that's under 18 years years old in New Hampshire, 2011
21.2%
Percentage of the population that's 65 years and over New Hampshire, 2011
14.0%

Gender

Percentage of the population that are females in New Hampshire, 2011
50.6%

Race breakdown for New Hampshire in percentages

White alone, 2011
94.6%
Black alone, 2011
1.3%
American Indian and Alaska Native alone,2011
0.3%
Asian alone, percent, 2011
2.3%
Native Hawaiian and Other Pacific Islander alone, 2011
NA
Two or more races, 2011
1.5%
Hispanic or Latino Origin, 2011
2.9%
Not Hispanic, White alone, 2011
92.2%

A little more about the residents of New Hampshire

Percentage of residents who lived in the same house 1 year ago, 2007-2011
86.6%
Percent of residents who are foreign born 2007-2011
5.2%
Percent speaking a language other than English at home, 2007-2011
7.9%

Education

Percent high school graduates or higher for residents 25 years old and over in New Hampshire, 2007-2011
91.2%
Percent with a bachelor's degree or higher for residents 25 years old and over in New Hampshire, 2007-2011
33.1%

Veterans

Total number of Veterans living in New Hampshire 2007-2011
118,313

Communting

The average travel time to work for workers in New Hampshire (16 years and over not working at home), 2007-2011
26.0 mins

Real estate stats in New Hampshire

Housing unit estimates, 2011
617,704
Owner-occupied housing units - percent of total occupied housing units, 2007-2011
72.5%
Housing units by units in structure - multi-dwelling structure, percent, 2007-2011
25.4%
Median value of specified owner-occupied housing units, 2007-2011
$250,000.00
Households, 2007-2011
514,869
Average household size, 2007-2011
2.48

Income

Per capita income for New Hampshire in the past 12 months (in 2011 inflation-adjusted dollars), 2007-2011
$32,357.00
Median household income in New Hampshire, 2007-2011
$64,664.00
Percentage of people living in poverty in New Hampshire 2007-2011
8.0%

Business and commerce info for New Hampshire

Private nonfarm establishments, 2010
37,452
Private nonfarm employment for pay period including March 12, 2010
562,505
Private nonfarm employment for pay period including March 12, 2010, percent change, 2000-2010
2.9%
Total number of businesses in New Hampshire, 2007
137,815
Percentage of Black-owned businesses in New Hampshire, 2007
0.5%
Percentage of American Indian- and Alaska Native-owned businesses in New Hampshire , 2007
0.4%
Percentage of Asian-owned businesses in New Hampshire, 2007
1.6%
Percentage of Native Hawaiian- and Other Pacific Islander-owned businesses in New Hampshire, 2007
NA
Percentage of Hispanic-owned businesses in New Hampshire, 2007
1.0%
Percentage of Women-owned businesses in New Hampshire, 2007
25.8%

Land size and population

Size of New Hampshire in Square Miles, 2010
8,952.65 mi²
Population per square mile in New Hampshire, 2010
147.0

New Hampshire real estate