Vermont Maintaining Housing Growth in Slow New England
While the rest of New England faces a slow real estate market, it looks like Vermont is showing growth and higher prices. The state has traditionally had a housing deficit, and in this case that is allowing the market to continue to grow while its neighbors have significantly slowed.
Richards says Vermont’s real estate market remains good for both buyers and sellers, in spite of a slowdown in housing construction, home purchases and prices. The good news for buyers is that 30-year home mortgage interest rates remain historically low. For the last couple weeks they have bounced between the high five percent and low six percent range. For sellers, home prices in Vermont are still rising at almost 10% per year, the highest rate in New England. That’s because Vermont is a desirable place to live for home buyers from out of state.
Matthews and her husband were 1999 graduates of the University of Vermont who decided to leave New York City and come back. “That was the draw,” she said. “A lot of our friends who went to UVM with us definitely said, ‘We’re right behind you.’” via WCAX
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