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New Hampshire Residential Real Estate Report for February, 2009 Residential - single family, condos and mobile homes. The average sale price for a residential home was only 3.87% less than the median price in January 2009 which is significantly less than the price drop of 10% from the month previous. Compared to February of 2008, one year ago, the average selling price is down by 17.70%. Again we see a slowing in the downward trend when we compare it to the 20% difference in price from January 2008 and January 2009.  Last month we saw a decrease in actual units sold but the number of residential units sold was UP this month by 187 from the previous month! New Hampshire actually saw only 39 less units sold that in February of 2008 one year ago!!! 
Are we seeing the bottom of this housing market crisis? It sure looks that way! Although housing prices are still going down, which is to be expected, the rate at which they are declining is slowing. This is a great sign. Second, the number of homes selling is up! This is huge! The amount of homes which sold this month are almost about the same from last year, a wonderful sign. People are buying homes, the market is moving, the sky is not falling. I repeat, people: the sky is NOT falling. The absorption rate at the end of February, 2009 for residential units is: 86.75 weeks. This rate is the number of weeks it would take to sell the entire inventory of residential homes at the present rate of sales.
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Real Estate Blog 
