Homebuyer Fairs Offer Opportunities Amid Housing Market Challenges

April 2, 2024

Nearly 100 prospective homebuyers recently attended a New Hampshire Housing Homebuyer Fair to learn how to navigate the complexities of the current homebuying market. Amid the ongoing challenges in finding and financing affordable homes in the state, homebuyer fairs offer an opportunity to learn about how to achieve homeownership. The next NH Housing Homebuyer Fair will be Saturday, April 6 from 9 AM – 1 PM at the Manchester DoubleTree Downtown.

In 2023, prospective homebuyers visited an average of 23 homes before purchasing one, and they reported they were more likely than not in a multiple-offer situation, according to the annual Homebuyer Survey by Opendoor.com.

In May 2023, New Hampshire’s housing market saw record-low affordability, with the median household income at only 66% of what was needed to afford a median-priced home at $465,000 amidst tight inventory and rising prices, according to the National Association of Realtors.

That makes the New Hampshire Housing Homebuyer Fairs, held in three regions of the state this spring, a much-needed event for prospective buyers to connect with housing professionals and get help in navigating the market’s challenges and learn about their options.

Melissa, a Rochester resident, attended the Seacoast Homebuyer Fair with her son to help him on his path to homeownership. “I wasn’t sure what to expect. It was a valuable experience and so helpful to talk with representatives of businesses who understand the home buying experience. Our son’s home buying journey has just begun. It’s good for him to get educated about the process and to find out what his options are.”

Eric Palmer, Manager of Mortgage Origination at Holy Rosary Credit Union in Rochester, noted, “Often potential buyers are afraid to ask questions about the homebuying process. These events put many of the area’s industry experts in a convenient and informal environment where potential buyers can have a conversation about their needs. The NH Housing Homebuyer Fairs are great for those who are either new to the homebuying process or a seasoned buyer who is looking for options,” Palmer said.

Despite facing challenges, attendees at the fairs are greeted with a sense of optimism. What initially appears as a barrier in the homebuying process transforms into an achievable milestone through education.

There are two remaining NH Housing Homebuyer Fairs this spring. The first will take place April 6 from 9 AM to 1 PM at the Manchester DoubleTree Downtown. The third fair is scheduled for May 18th from 10 AM to 2 PM in Littleton. For more information about homebuyer fairs, homebuyer education classes, and NH Housing’s downpayment assistance and other homeownership programs, visit NHHomeownership.org.

About New Hampshire Housing’s Homeownership Division: As a self-supporting public corporation, New Hampshire Housing promotes, finances, and supports housing solutions for the people of New Hampshire. Our special mortgage programs have helped more than 55,000 families purchase their own homes. The Homeownership Division works with a network of lenders and real estate professionals to offer a variety of mortgage programs that enable homebuyers – especially first-time homebuyers – to purchase or refinance a home in New Hampshire.  NHHomeownership.org

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