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New Hampshire, one of the Healthiest Housing Markets here's the top 10

 

States with the Healthiest Housing Markets.

Loon Mt ski Area -Lincoln NH

New Hampshire Makes #3 out of all 50 states.

 

1. North Dakota

Debt as percent of income: 14% 
Unemployment rate: 3.7% 
Home ownership: 67.1% 
Negative equity: 37.7% 
Average home price: $173,000 
Loan as percent of home value: 60.1% 
Percent of U.S. Market: 0.07% 

the healthiest real-estate market in the U.S. is … North Dakota! “There’s a very low cost of ownership and very low unemployment.

 

 

2. Minnesota

Debt as percent of income: 17% 
Unemployment rate: 6.7% 
Home ownership: 72.6% 
Negative equity: 22.2% 
Average home price: $224,000 
Loan as percent of home value: 65.6% 
Percent of U.S. Market: 1.01% 

the low rate of unemployment is what really stands out with Minnesota

 

 

3. New Hampshire

Debt as percent of income: 18% 
Unemployment rate: 5.4% 
Home ownership: 74.9% 
Negative equity: 25.2% 
Average home price: $243,000 
Loan as percent of home value: 69.8% 
Percent of U.S. Market: 0.42% 

New Hampshire has a very low unemployment rate at 5.4%, compared to the national rate of 8.8%, which helped the state keep its debt as a percent of income to just 18%. There’s a high percentage of home ownership here and the average home price is below the national average of $298,000.

Squam Lake -Holderness NH

 

4. Maine

Debt as percent of income: 17% 
Unemployment rate: 7.5% 
Home ownership: 73.8% 
Negative equity: 30.1% 
Average home price: $210,000 
Loan as percent of home value: 58.6% 
Percent of U.S. Market: 0.11% 

Debt as a percent of income is pretty low in Maine, and the loan as a percent of home value is the lowest in the top 10. They have the second-highest home ownership rate in the top 10. 

 

 

5. Iowa

Debt as percent of income: 13% 
Unemployment rate: 6.1% 
Home ownership: 71.1% 
Negative equity: 42.9% 
Average home price: $152,000 
Loan as percent of home value: 66.7% 
Percent of U.S. Market: 0.42% 

Iowa has some of the lowest real estate prices in the top 10. But it has one of the highest rates of negative equity in the top 10, which is probably what kept them from ranking higher on the list,

 

#6 Wyoming Home ownership 73.4% debt ratio to income 18%

#7 Alaska    Home ownership 65.7%   Debt to income Ration 17%

#8 Nebraska Home ownership 70.4% Debt to income ratio 15%

#9 Texas      Home ownership 65.3% Debt to income ration 16%

#10 Indiana Home ownership 71.2% Debt to income ratio 15%

 

These numbers were supplied in a study Published by Lending Tree mortgage services with additional number supplied by the U.S. census bureau.  What is the common thread in the top ten housing markets? The Percentage of Home ownership is in excess of 65% with 7 of the top ten boasting over 70% home-ownership, and overall debt to income ratios all at or under 18%. Last but not least - better unemployment figures compared to other parts of the nation also contribute to the top ten housing markets for stable prices.

 

If you are seriously considering buying property in any of the top ten states waiting for the prices to drop further is not a good strategy.

                       

                                                                                                                                                                              Your-White Mountain New Hampshire real Estate Expert

                    steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898

                        MLS search and Realtor web site: www.alpinelakes.com

                         My outside Blog: www.steveswhitemountainblog.com

                    Lincoln NH &  Local interest site: www.localism.com/nh/lincoln

    Grafton County NH MLS search

11 commentsSteve Loynd • April 23 2011 12:21PM
New Hampshire, one of the Healthiest Housing Markets here's the top 10
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States with the Healthiest Housing Markets. Loon Mt ski Area -Lincoln NH New Hampshire Makes #3 out of all 50 states. 1. North Dakota Debt as percent of income: 14% Unemployment rate: 3. 7% Home ownership: 67. 1% Negative equity: 37. 7%… more