Title Agents expect big property price increases in 2016, specifically in New Hampshire

Date: 
Wednesday, December 9, 2015

First American Financial Corporation released their fourth-quarter Real Estate Sentiment Index this week, and according to a survey of over 3,000 title agents, home prices are still expected to rise significantly throughout 2016. The title agents are estimating an average price increase of 5.7% across the nation. However, the expected increase is slightly less than what the agents came up with on the third-quarter survey (6.7%).

The surveyed agents predict that New Hampshire, with as an estimated average price growth of 8.1%, to see the second highest increase in the nation in terms of single-family homes (behind only Alaska at 8.7%). First-time home buyers are expected to make the largest contribution to these figures, though that could be impacted if the Fed does in fact raise rates later this month.

With that being said, agents wouldn't expect a rate hike to have any dramatic impact unless rates reach 5%+. But swaying home pricing, specifically in New Hampshire, is another possible ramification that makes the Fed meetings this month worth monitoring.