Who's Buying Second Homes in NH?

The most recent (2005) U.S. Census Bureau population estimates suggest that demand for housing in New Hampshire from retirees and second home owners is likely to remain strong for quite some time. The Bureau estimated a 15,000-person increase in New Hampshire residents ages 65 or older. That’s a 10 percent rise from 2000 to 2005, compared to no increase at all in the other five New England states.

The age group with the highest incidence of second home ownership are people ages 55 to 64. The Bureau estimated a 25 percent jump in that age group, both nationwide and in New England. Most of this age group are Baby Boomers (who are now ages 43 to 61). Here’s what Dr. Karl Case, a noted real estate economist, said about them in a recent report for the Boston Federal Reserve Bank’s New England Public Policy Center:

"Boomers look at housing as previous generations looked at cars and TVs: rather than owning just one house, in many cases they own two, and sometimes three or four."

- Source: Northern New England Real Estate Network and NH Association of Realtors