January’s market report for NH just hit my inbox and there was no surprise it was highlighting the lack of homes for sale. This has pushed prices up 23% in January compared to the same month last year. Right now, homes are on the market for less than a month. I’m sure many buyers are wondering if it is a good time to buy or if they should just wait. You may think increasing values means homes are less affordable today. While there are many factors that go into affordability, it boils down to the fact it is not just about the price of the home but the overall cost in the long run. Historically low interest rates stretch your spending power and mean you can save significantly over the life of a loan. Additionally, many experts say it is more affordable to own a home than rent. The cost of renting has been relatively high compared to the cost of owning. Here is a startling statistic - the net worth of a homeowner is 40x greater than that of a renter. While the market is a bit challenging at the moment, the expectation is to see more houses hit the market this spring. Contact me if you’d like to know how to best position yourself to build wealth and become a homeowner this year.
Donna Forest, email@example.com, 603-731-5151 (c), 603-526-4116 (o)
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