The market isn’t hitting pause—should you?
If you’re renting in Portsmouth, Dover, or across the NH Seacoast while you “wait for rates to drop,” you’re playing a game where the goalposts keep moving. Home prices and rents keep rising, and every month you pay rent is a month you’re funding someone else’s equity. Let’s look at the numbers—and the opportunity you still have to get ahead.
1. Home prices are racing ahead
| Year | NH Median Single‑Family Price | % Change vs. 2019 |
|---|---|---|
| 2019 | $300,000 | — |
| 2024 (avg. Jan–Sep) | $515,900 | +76 % New Hampshire Fiscal Policy Institute |
| June 2025 | $565,000 (new record) | +88 % New Hampshire Bulletin |
That’s roughly $265,000 in appreciation since 2019—or more than $3,600 per month in lost equity for those who sat on the sidelines.
2. Rents keep climbing too
-
Portsmouth average apartment rent (June 2025): $2,420/mo RentCafe
-
Statewide median 2‑bed rent: $1,833/mo, up 36 % since 2019 New Hampshire Fiscal Policy Institute
Remember, rent is 100 % interest—money you’ll never see again.
3. Today’s interest rate is tomorrow’s refinance
| Week of | 30‑yr Fixed Rate (Freddie Mac) |
|---|---|
| July 10 2025 | 6.72 % Freddie Mac |
Rates move, but your purchase price is locked when you buy. If rates fall later, you can refinance; if prices keep rising, you can’t “re‑buy” yesterday’s home price.
4. The real cost of waiting
Scenario: You’re eyeing a $565k Seacoast home today but decide to wait a year.
If prices rise a modest 3 % (below recent averages), that same home could cost ~$582k next summer—$17k more upfront plus higher closing costs and property taxes. Even if rates slip by half a point, you’re likely still paying more over the life of the loan than if you’d bought now and refinanced later.
5. Ready to trade rent checks for equity?
Download my free Buyer’s Guide—packed with step‑by‑step strategies, cost break‑downs, and local insights.
-
Book a complimentary consultation (video, phone, or coffee on me in Portsmouth). We’ll run the numbers on your specific situation—no pressure, just clear answers.
-
Stay in the know: I’ll send you off‑market Seacoast and Southern ME opportunities the moment they hit my radar.
Let’s make 2025 the year you buy, not the year you keep paying someone else’s mortgage.
Stephen “Steve” Oates, Broker | NH Seacoast • Southern ME • Greater Newburyport, MA
📞 (603) 777‑7908 ✉️ steve@soates.com
Your home‑buying journey starts with one conversation. Click below to grab the guide and lock in your consultation today. https://seacoast-homes.com/buy-like-a-pro/
