The New Hampshire Association of Realtors says in 2008, the state’s residential housing market took its sharpest decline in more than a decade.
Unit sales had a third consecutive year of a double-digit decrease, with 10,000 single family homes sold in 2008, compared to almost 12,000 sales in 2007. That’s a 15 percent drop, following decreases of 18 percent in 2006 and 10 percent in 2007.
In spite of the falling numbers, realtors remained focused on historical data that shows real estate as a cyclical market, and one that ultimately moves upward over the long term.