The NH Housing Market in January: Slight Uptick in Foreclosures, a Drop in Sales
According to the foreclosure tracking firm RealtyTrac, 512 New Hampshire residential properties received foreclosure notices in January. While this is an increase from the 405 in December, the number of filings seen last month is substantially lower than the 2012 monthly average.
Statewide, 1 in 1175 units received a notice in January. The national average for the month was 1 in 869, with heavy hit Florida seeing the worst ratio of 1 in 300.
Of the properties receiving a notice, half were destined for the auction block, while the remaining half reverted to bank ownership.
There are currently 3840 foreclosure properties in the state with 140 sold in January. The average selling price was $150,372.
Turning to the traditional housing market, according to the New Hampshire Association of Realtors, 800 houses were sold in January, a drop from 1037 sold in December, but up from the 660 sold in January 2012.
Only Sullivan County did not report an increase in sales over the January 2012 figures.
The median sale price increased in Coos, Grafton, Stafford and Carroll counties and fell in the remaining 6 counties.
Unemployment, economic uncertainty, the games going on in Washington, the backlog in foreclosures, and the constant intervention of the federal government in the housing finance sector will continue to depress housing activity for months to come, if not longer.