October Housing Sales Rise as Prices Fall: Condo Sale Surge

Declining home prices continue to help residential sales in New Hampshire. Prices are down about 11 percent and sales for the year are a hair above what they were in 2008.

Real estate agents are pleased with the October numbers. After a grim period stretching from last fall to early spring, there’s been a consistent if modest upward trend. The number of homes sold last month rose compared to this September and compared to October a year ago. The data come from the New Hampshire Association of Realtors.

Activity in Hillsborough, Merrimack and Rockingham counties drove up the statewide average. An important underlying factor has been declining home prices. The median sales price in October was about 5 thousand less than the month before, making homes more affordable.

October 2009 showed a 23 percent increase in condo sales over October 2008. Prices were almost the same as last year.

Concern over the federal tax credit for first time buyers might also have played a role. It had been due to expire in November which lent an urgency to some transactions. Congress passed an extension early this month.