New Hampshire, one of the Healthiest Housing Markets here's the top 10

By
Managing Real Estate Broker with Alpine Lakes Real Estate Inc., NHRE# 02863

 

States with the Healthiest Housing Markets.

Loon Mt ski Area -Lincoln NH

New Hampshire Makes #3 out of all 50 states.

 

1. North Dakota

Debt as percent of income: 14% 
Unemployment rate: 3.7% 
Home ownership: 67.1% 
Negative equity: 37.7% 
Average home price: $173,000 
Loan as percent of home value: 60.1% 
Percent of U.S. Market: 0.07% 

the healthiest real-estate market in the U.S. is … North Dakota! “There’s a very low cost of ownership and very low unemployment.

 

 

2. Minnesota

Debt as percent of income: 17% 
Unemployment rate: 6.7% 
Home ownership: 72.6% 
Negative equity: 22.2% 
Average home price: $224,000 
Loan as percent of home value: 65.6% 
Percent of U.S. Market: 1.01% 

the low rate of unemployment is what really stands out with Minnesota

 

 

3. New Hampshire

Debt as percent of income: 18% 
Unemployment rate: 5.4% 
Home ownership: 74.9% 
Negative equity: 25.2% 
Average home price: $243,000 
Loan as percent of home value: 69.8% 
Percent of U.S. Market: 0.42% 

New Hampshire has a very low unemployment rate at 5.4%, compared to the national rate of 8.8%, which helped the state keep its debt as a percent of income to just 18%. There’s a high percentage of home ownership here and the average home price is below the national average of $298,000.

Squam Lake -Holderness NH

 

4. Maine

Debt as percent of income: 17% 
Unemployment rate: 7.5% 
Home ownership: 73.8% 
Negative equity: 30.1% 
Average home price: $210,000 
Loan as percent of home value: 58.6% 
Percent of U.S. Market: 0.11% 

Debt as a percent of income is pretty low in Maine, and the loan as a percent of home value is the lowest in the top 10. They have the second-highest home ownership rate in the top 10. 

 

 

5. Iowa

Debt as percent of income: 13% 
Unemployment rate: 6.1% 
Home ownership: 71.1% 
Negative equity: 42.9% 
Average home price: $152,000 
Loan as percent of home value: 66.7% 
Percent of U.S. Market: 0.42% 

Iowa has some of the lowest real estate prices in the top 10. But it has one of the highest rates of negative equity in the top 10, which is probably what kept them from ranking higher on the list,

 

#6 Wyoming Home ownership 73.4% debt ratio to income 18%

#7 Alaska    Home ownership 65.7%   Debt to income Ration 17%

#8 Nebraska Home ownership 70.4% Debt to income ratio 15%

#9 Texas      Home ownership 65.3% Debt to income ration 16%

#10 Indiana Home ownership 71.2% Debt to income ratio 15%

 

These numbers were supplied in a study Published by Lending Tree mortgage services with additional number supplied by the U.S. census bureau.  What is the common thread in the top ten housing markets? The Percentage of Home ownership is in excess of 65% with 7 of the top ten boasting over 70% home-ownership, and overall debt to income ratios all at or under 18%. Last but not least - better unemployment figures compared to other parts of the nation also contribute to the top ten housing markets for stable prices.

 

If you are seriously considering buying property in any of the top ten states waiting for the prices to drop further is not a good strategy.

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                                                                                                                                                                              Your-White Mountain New Hampshire real Estate Expert

                    steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898

                        MLS search and Realtor web site: www.alpinelakes.com

                         My outside Blog: www.steveswhitemountainblog.com

                    Lincoln NH &  Local interest site: www.localism.com/nh/lincoln

    Grafton County NH MLS search

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Rainmaker
690,870
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Good news for your area and market the recovery won't take as long for your market. I didn't see my state Florida in the top 10.

Apr 23, 2011 05:24 AM #1
Rainmaker
1,052,071
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Pat, I don't think you'll see Florida in the top ten for a while. in fact it's near the bottom 10 at the moment. Once the Negative equity cleans it self up you'll back on top, the only good news is buyers can get a lot of property for the money in your market right now.

Apr 23, 2011 05:32 AM #2
Rainer
258,100
Charles Edwards Bentonville
Coldwell Banker Harris McHaney & Faucette 479-253-3796 - Bentonville, AR
AR REALTOR, Bentonville Real Estate Agent and Broker

Steve, nice stats that may (or may not) confirm what I've thought for a long time about northern New England. It has become a playground for the wealthy. It is magnificently beautiful, who wouldn't want some of that?

Apr 23, 2011 05:58 AM #3
Rainmaker
1,052,071
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Charles... One of the recent blog I posted did a little more internal research, Our part of the state the 44 towns of Grafton County...were found to have 25% of all sales as Second homes. These folks can afford to keep these recreation or retirement homes and many are cash buyers. This takes a lot of Worry away from our market. You only buy a second home if you can truly afford it.

Apr 23, 2011 06:06 AM #4
Rainmaker
1,204,586
Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Steve, these are nice stats!  I agree that you really need to jump if you're thinking of buying regardless of where!  Although the urgency is certainly greater in the top 10, prices won't be down long in these places!

Apr 23, 2011 06:08 AM #5
Rainmaker
1,052,071
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Tony, With low unemployment and a high percentage of the population being home owners the prices are fairly stable in the top 10 markets. Buyers should make their best deals soon before rates go up.

Apr 23, 2011 06:17 AM #6
Rainer
258,100
Charles Edwards Bentonville
Coldwell Banker Harris McHaney & Faucette 479-253-3796 - Bentonville, AR
AR REALTOR, Bentonville Real Estate Agent and Broker

Steve, New England pulls at my heart strings for sure. My ancestors participated in the settling of Otisfield, ME. Lovell, ME, and  Monroe, NH. to name a few that I'm aware of.

Somewhere there is some meaning there ... or is it, 'that and a couple of bucks get you a cup of coffee anywhere?'  

Apr 23, 2011 06:17 AM #7
Ambassador
3,819,596
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Steve that is a great list to be on the top of.  I wonder where Connecticut would fall on that list?

Apr 23, 2011 08:27 AM #8
Rainmaker
1,052,071
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

George, I can tell you it's not in the Bottom 10.

Apr 23, 2011 08:36 AM #9
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Like George, I wonder where Connecticut fell.  Congrats on being the NUMBER 1, state in New England.  You can always look at it that way.

Apr 23, 2011 10:51 AM #10
Rainer
478,183
Not a real person
San Diego, CA

Yeah, New Hampshire! Our percentage is very low due to high prices, but someone is buying all the stuff that’s here, and that can’t be all bad!

Apr 24, 2011 02:21 PM #11
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Rainmaker
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Steve Loynd

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