April 2021 – New Hampshire Housing Shortage

Over the past few years there has been an increasing housing shortage in NH. In December 2020, home sales went up by 25% and the median cost went up by $50,000.  These costs can continue to rise because there is such a high demand, giving buyers no leverage to negotiate. Russ Thibeault, an economist in NH, has stated we need approximately 20,000 additional housing units to balance out the supply and demand. Unfortunately, it’s not that easy. There is a consistent reluctance to allow the zoning needed to build these additional homes. There is an upside for sellers and landlords though, people want to buy and quickly, and rental rates have not been lowered for apartment units. In addition to the lack of available housing, the COVID-19 Pandemic has only amplified the states homelessness problem. With lost jobs and limited space in shelters to accommodate safety protocols, there is an increasing need for housing and housing assistance.

Sources/Learn More:

New Hampshire starts 2021 with a severe housing shortage – THE JOSIAH BARTLETT CENTER FOR PUBLIC POLICY (jbartlett.org)

NH’s housing shortage: ‘If we want people to move here we need to have someplace to put them’ | Manchester Ink LinkShortage of housing in NH: new homes & rental units – Bing video