Archive for the 'Residential' Category

“The cost of housing in Vermont continued to decline in 2011, according to The Vermont Economy Newsletter’s annual housing affordability analysis.”

““The share of median family income needed to finance the payments on a median priced home in Vermont fell to 13.1% in 2011,” said Art Woolf, author of the study. “That means housing is more affordable today than it has been in the 25 years we have been tracking housing affordability. Other evidence suggests that housing has not been this affordable since at least the early 1970s,” he continued.”…

Read the entire article Housing affordability in Vermont at record level in 2011 vtbiz.com, Monday, April 9, 2012.

“Vermont home prices declined more rapidly than most states as home prices nationwide saw some relief over the last month, but continued to decline. Vermont prices fell 3.8 percent in January compared to a loss of 3.1 percent nationally. CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its January Home Price Index (HPI) report, the most timely and comprehensive source of home prices available today. The report shows national home prices, including distressed sales, declined on a year-over-year basis by 3.1 percent in January 2012 and by 1.0 percent compared to December 2011, the sixth consecutive monthly decline….” Vermontbiz.com, March 7, 2012

Including distressed sales, the 5 states with the highest appreciation were:

#1 Montana (+4.4 percent)

#2 Vermont (+4.0 percent)

#3 South Dakota (+3.1 percent)

#4 Nebraska (+2.5 percent)

#5 New York (+1.7 percent)

Read the entire article at December Home Price Index shows Vermont second in US - vermontbiz.com, Friday, February 3, 2012.

Vermont Business Magazine, Wednesday, September 21, 2011

In August 2011, New England posted an 8.9 percent increase in sales compared to August 2010, indicating that the housing market continues to recover. Vermont helped fuel the surge, with year-over-year home sales up 18.8 percent. However, it was also the only state in the region to post month-to-month declines in both units sold, -6.7 percent, and median price, -3.3 percent.

Connecticut was also the only state to experience month-to-month gains in both units sold, up 6.6%, and median price, up 1.7 percent. Maine also experienced New England’s largest increase in units sold, with month-to-month sales up 8.4 percent. However, the median price took a hit, dropping -6.6 percent. Month-to-month home sales in Massachusetts actually dropped -3.0 percent. However, when comparing August 2011 to August 2010, home sales were actually up 2.6 percent. New Hampshire’s 8.0 percent surge in month-to-month home sales was second only to Maine. Rhode Island helped fuel the surge, with year-over-year home sales up over 31% in the Ocean State. Month-to-month home sales were also up 7.6 percent.

“We’re pleased to see an increase in transactions in August without any artificial stimulus,” said Jay Hummer, Executive Vice President, RE/MAX of New England.“ Although the housing recovery will continue to hit bumps along the way, it is slowly returning despite tighter lending because of continued low interest rates.”

He said low interest rates continue to help the market rebound.

Some good news in terms of the Vermont housing market.  “Vermont reverses trend: Home prices down, sales up”, as reported on vermontbiz.com, Monday, July 18, 2011.

“Vermont’s high cost of housing highlighted in national housing affordability report” as reported in Vermont Business Magazine E-News on May 2, 2011.

RE/MAX reports surge in NE real estate, Vermont home sales up 32 percent (Vermont Business Magazine, Wednesday, April 13, 2011.