With continued low inventory and rising prices in both Portsmouth NH and the New Hampshire Seacoast some are saying we may be entering another housing bubble.
We asked the experts (in addition to us) what they thought of that theory and the likelihood of another housing bubble on the Seacoast.
David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices:
“Housing is not repeating the bubble period of 2000-2006.”
“…price increases vary unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.”
Christopher Thornberg, Partner at Beacon Economics:
“There is no direct or indirect sign of any kind of bubble.”
“Steady as she goes. Prices continue to rise. Sales roughly flat.…Overall this market is in an almost boring place.”
While frustrated NH Seacoast buyers may not be able to find the home of their choice because of continuing limited inventory of single family home and condos, there does not seem to be another bubble in the making.
The desirability of both Portsmouth NH real estate and the New Hampshire Seacoast is one of the driving factors in continued price increases. This is a very beautiful area with lots of attraction for people of all tastes.
Have a real estate question? That’s our favorite subject. Give us a call or text at 603-436-1221 or email Jim@JimLee.com or Ann@AnnCummings.com.
See market reports for Portsmouth NH and the New Hampshire Seacoast towns here.
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