2016 – The time to sell!
New Hampshire sellers rejoice! The recent housing forecast study for 2016 released by realtor.com shows great signs for a strong 2016! Now most of the time these studies are simply national averages and show very little regional or local data. However, the study identified Boston-Cambridge-Newton, Mass – NH as ‘hot’ areas for millennial and retirees looking to purchase. According to the study our region ranked 4th on sought after markets for millennials and 1st for active retiree markets. As a listing agent this makes me want to jump for joy!
It was noted that millennials are expected to be the largest demographic of buyers nationally making up 30%. They may be a large purchasing group in the Boston metro area but don’t expect New Hampshire to be the same. The sad truth has been and I predict will continue to be that millennials continue to move away in search of higher paying jobs but most will agree this is a great place to raise children and hope to return someday. Young Gen X buyers are predicted to make up the second largest buying population for 2016. I anticipate this could impact our second home market with this group looking to purchase their first vacation or investment home.
Retirees are expected to be the third largest buying group next year. The most exciting part about this category is that Boston-Cambridge-Newton, Mass – N.H. is slated top of the list to see the greatest number of purchases. Trends for this market segment are new construction, downsizing and a lower cost of living.
What this trickles down to for sellers in New Hampshire as well as the Boston Metro areas is that real estate sales are going to continue to increase as the market improves. 2015 saw great increases over 2014 and we can expect even better for 2016. If you are thinking about putting your house on the market next year it is not too early to begin your the process by calling me to schedule meeting. I can always be reached at (603) 455-7110 or [email protected]
Click Here to read the full article from Realtor Magazine.