The price of homes in New Hampshire won’t bottom out until 2014, lagging behind most of the rest of the country, according to projections by Zillow, a national real estate analysis firm. It’s a gloomy forecast that contrasts with the latest report from the New Hampshire Realtors Association.
Based on Zillow data, Yahoo!’s Spaces blog reported on March 15 that the Manchester area (which includes Nashua and most of Hillsborough County) is one of only nine metro areas in the U.S. where home values will continue to decline through the year. The nation hit bottom as a whole in October of last year.
According to the data, average home prices will decline 1.5 percent in value, to $183,600, and in the Manchester area, prices will fall 1.8 percent, to $181,800.
Among the other municipalities where home prices are in decline, according to the Zillow database as supplied to NHBR: the city of Manchester, down 1.4 percent; Nashua, down 0.9 percent; Merrimack, down 1.8 percent; Hudson, down 1.7 percent, and New Castle, down 3.1 percent.
On the upswing are: Londonderry, up 4.9 percent; Portsmouth, up 1.4 percent; Derry, up 0.9 percent; Dover, up 0.4 percent; and Salem and Rochester, up 0.3 percent.
Nationwide, home values will go up 3.3 percent, to an average $163,000, according to Zillow.
The value of homes declined 0.7 percent statewide in 2012, Zillow says.![]()
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