Vol.44, No.23
www.thewarrengroup.com
W E E K O F M O N D A Y, J U N E 6 , 2 0 2 2
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
FUTURE FORECASTS
Nashua
120 E HOLLIS ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,650,000 B: 120 East Hollis LLC S: 39 Bridge Street Corp Mtg: Enterprise Bk & Tr Co $3,487,500 Use: Industrial Warehouse, Lot: 144619sf
Seabrook
831 LAFAYETTE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $3,764,266 B: Store Master Funding 26 S: Double 9 Prop 2 LLC Use: Restaurant/bar, Lot: 87120sf
Lincoln
Can Home Prices Keep Up Double-Digit Gains? RE/MAX CEO Sees Slowdown from Rate Hikes BY ALEX VEIGA THE ASSOCIATED PRESS
20 YELLOW BIRCH CIR. . . . . . . . . . . . . . . . . . . . . . . . $2,750,000 B: Loony Bin Resorts LLC S: Westwood Rlty Partners
Windham
11 INDIAN ROCK RD. . . . . . . . . . . . . . . . . . . . . . . . . . $2,350,000 B: Beylin Development LLC S: Village Center Prop LLC Use: Commercial Devlpble Land, Lot: 555390sf
Milford
15 MONT VERNON ST. . . . . . . . . . . . . . . . . . . . . . . . . $2,133,000 B: Robert E Dahms & Maria Molak S: MH Parsons&Sons Lumb Use: Retail-department Store, Lot: 53579sf
Portsmouth
180 WASHINGTON ST. . . . . . . . . . . . . . . . . . . . . . . . . $1,700,000 B: Stephen C Buczko & Nancy E Buczko S: John K Bosen Tr, Tr for Thunderbolt RT
Nashua
146-150 MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,600,000 B: 146 Lofts LLC S: 146-150 Main Street LLC Mtg: Enterprise Bk & Tr Co $6,111,267 Use: Office Bldg-general, Lot: 17206sf
Exeter
LINDEN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,400,000 B: Cobbletone 2 Lex A LLC S: Beech Hill Mgmt Svcs Inc
Meredith
18 PIKE ISLAND RD . . . . . . . . . . . . . . . . . . . . . . . . . . $1,400,000 B: Andrew J Oconnor & Gina L Oconnor S: Robert J Renino & Joan D Renino Mtg: Guaranteed Rate Inc $1,120,000 Use: 3 Bdrm Colonial, Lot: 29944sf
Barrington
14 PEABODY WAY. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,300,000 B: Keith A Sloan S: Thomas B Polanski Mtg: CMG Mortgage Inc $875,000 Use: 2 Bdrm Cape Cod, Lot: 80586sf
T
he U.S. housing market is slowing as would-be buyers struggle with rising borrowing costs and a persistent shortage of properties for sale. Previously occupied home sales fell in February and March as mortgage rates shot up, crimping homebuyers’ purchasing power during the annual spring homebuying season. The average weekly rate for a benchmark 30-year mortgage slipped last week to 5.25 percent from 5.3 percent the previous week, which was the highest level since 2009, according to mortgage buyer Freddie Mac. A year ago the average rate was 3 percent.
I don’t necessarily think there’s a correlation that exists between the mortgage rate and the inventory that comes on the market. Nick Bailey, president and CEO of RE/ MAX, a global network of independently owned and operated real estate brokerages with about 3,300 locations in the U.S. alone, recently spoke to the Associated Press about the impact rising mortgage rates will have on
PG
3 3 4 4 5 6 7 8 10 10 11 11 11 11
$425,000 425000 $400,000 400000
REAL ESTATE RECORDS
$375,000 375000
TRANSACTIONS THRU
Belknap �������������������������� 05/20/22 Carroll ���������������������������� 05/20/22 Cheshire ������������������������ 05/20/22 Coos �������������������������������� 05/20/22 Grafton ���������������������������� 05/20/22 Hillsborough ������������������ 05/20/22 Merrimack ���������������������� 05/20/22 Rockingham ������������������ 05/20/22 Strafford ������������������������ 05/20/22 Sullivan �������������������������� 05/20/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
the rise in interest rates is going to help buyers not be in as strong a competitive bidding situation as they have in the past. I think it will stabilize pricing and overall help the market return to a little bit more of an equilibrium, which I think is needed. The market could not continue to go up by double-digit price appreciation year after year after year. Q: One thing that could help buyers is more homes on the market. Are you concerned that homeowners with an ultra-low, fixed mortgage rate may be reluctant to sell
Single-Family Median Sales Price
INDEX COUNTY
the housing market this year, from less competition among home buyers to more muted selling price increases. The interview has been edited for length and clarity. Q: What impact is the surge in mortgage rates this year having on the housing market? A: The number one thing it has done is it’s started to help price appreciation stabilize a bit. Obviously, the big talk the last couple of years is how much home prices have increased with most markets across the country in some level of double-digit growth. I think
NEW HAMPSHIRE MARKET STATISTICS
Windham
8 ACADIA DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,278,533 B: Lindsay E Bucci S: Meadow Creek Homes LLC Mtg: Fairway Ind Mtg $958,875 Use: Residential Developable Land, Lot: 20909sf
The head of one of the largest brokerage networks in America sees a slowdown ahead in home price growth.
$350,000 350000 $325,000 325000 $300,000 300000
Want to see your news featured in a future issue of The Registry Review?
Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. April ’21
’22
Number 400000 $400,000 of Sales 360000 $360,000
Year
Median Price
Change Prior Year
320000 $320,000
Apr. 2018
$250,000
6.38%
280000 $280,000
Apr. 2019
$265,400
6%
240000 $240,000
Apr. 2020
$295,000
11.32%
Apr. 2021
$335,000
13.56%
Apr. 2022
$385,000
14.93%
200000 $200,000
Continued on Page 12
Apr.
Apr. ’18
Apr.
Apr. ’19
Apr.
Apr. ’20
Apr.
Apr. ’21
Apr.
Apr. ’22
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
©2022 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.
Send submissions for consideration to
editorial@thewarrengroup.com.