The 2024 election has left many wondering how political shifts might impact New Hampshire's housing market. New Hampshire's real estate landscape has its own unique characteristics, with affordability challenges, seasonal trends, and demand from buyers both in-state and from nearby metro areas. So what should Granite State residents expect in the coming months?
Here’s a closer look at what the post-election period may mean for NH’s housing market and practical advice for navigating it.
1. How Will Election Outcomes Affect Home Prices in New Hampshire?
Regardless the political landscape, New Hampshire home prices are expected to remain stable, and potentially even rise. In recent years, demand has consistently outpaced supply in areas like the Seacoast, the Lakes Region, and parts of southern NH close to the Massachusetts border. In election years, home prices historically hold steady or continue upward as buyers remain interested in NH’s lifestyle, proximity to Boston, and tax benefits.
For sellers, this means that home values are likely to remain resilient. Even if there’s a temporary slowdown, demand for homes in the Granite State should rebound as buyers re-enter the market.
2. Could Mortgage Rates in NH Become More Buyer-Friendly?
Mortgage rates often adjust slightly around elections. New Hampshire homebuyers could see some easing in rates, reflecting national trends. If rates decrease, even slightly, this could mean more affordable financing options—a welcome change for first-time buyers and those looking to upgrade to a larger home. For those considering a home purchase, monitoring mortgage rates closely in the coming months and consulting with a local mortgage advisor could help you secure favorable terms.
3. Expect a Brief Pause, Then a Return of Buyer Interest
Election years often bring a short-term dip in activity, but that lull rarely lasts long in New Hampshire. For areas like Portsmouth, Concord, and Nashua, interest usually picks up in early winter or spring, particularly as people seek the benefits of NH’s outdoor lifestyle and relatively lower property taxes. This short “pause” could be an ideal window for buyers to find favorable deals before spring competition returns.
4. Key Factors Unique to New Hampshire’s Market
New Hampshire’s real estate market reflects a blend of influences: high interest from out-of-state buyers, a limited inventory of homes, and regional economic factors. Inventory shortages, especially in southern and coastal areas, keep prices relatively high and could maintain upward pressure post-election. Additionally, NH’s appeal as a tax-friendly state without sales or income tax remains a significant draw for buyers from neighboring states.
5. Tips for New Hampshire Buyers and Sellers
If you’re planning to buy or sell in New Hampshire, here are a few specific tips for this post-election period:
- Stay Up-to-Date on Local Rates: While national mortgage rates are useful indicators, check with NH lenders for any state-specific trends. Some banks offer unique incentives for NH buyers, which could make your financing more affordable.
- Consider Seasonal Market Timing: Given New Hampshire’s seasonal market, there may be opportunities in the winter months as sellers motivated by relocation or other factors list their properties before the spring rush.
- Plan for a Competitive Spring Market: Sellers may benefit from waiting for the increased demand in spring, while buyers who act sooner might find better deals.
Final Thoughts: Why NH’s Market Remains Strong
New Hampshire’s real estate market is historically resilient and shows strong buyer interest year-round, especially in communities offering access to outdoor activities and proximity to Boston. By staying informed about rates, local trends, and seasonal factors, NH buyers and sellers can make confident, informed decisions as we move beyond the 2024 election.
For anyone in New Hampshire considering a move, working with a knowledgeable NH real estate professional can ensure you’re prepared to navigate the opportunities that lie ahead.
Ready to make your move? Whether buying, selling, or simply exploring your options, the post-election market presents new opportunities. Connect with a trusted real estate professional today to navigate the market with confidence and make the most of current trends.
