Vol.44, No.22
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W E E K O F M O N D A Y, M A Y 3 0 , 2 0 2 2
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
INVESTMENT PROPERTIES
Institutional Investors Are Buying NH Houses, but Where?
Laconia 220 UNION AVE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,368,400 B: Milestone NH Holdings LLC S: CNLV 2 Cvlacnh LLC Use: Retail-service, Lot: 69260sf
Nashua 10 SAINT LAURENT ST U:1. . . . . . . . . . . . . . . . . . . . . $3,786,000 B: Store Master Funding 26 LLC S: Double 9 Property 2 LLC & 99 Remainder 2 LLC Mtg: Citibank Na $3,797,989 Use: Restaurant/bar, Lot: 40598sf
Sun Belt States See Most of the Action BY JAMES SANNA REGISTRY REVIEW STAFF
Manchester
W
ith home prices spiraling upwards and stories about the growing single-family rental industry percolating in local and national media alike, concern is rising about the impact institutional investors might be having on the housing market. But are there really that many in New Hampshire? New research from the National Association of Realtors’ economics team sheds light on the question. NAR researchers used property deeds provided by real estate data firm Black Knight to estimate institutional buyers’ market share in counties across the nation in 2020 and 2021, and announced their findings Tuesday. Nation-wide, institutional buyers – which researchers defined as “companies, corporations, or LLCs” – made up 13.2 percent of residential purchases in 2021, and saw their market share grow in nearly all states compared to 2020. However, while this is an increase of 1.5 percentage points over 2020, it is far from a high. The NAR report says investors made up between 14 percent and 15.7 percent of all residential purchases across America between 2011 and 2019.
1685 S WILLOW ST. . . . . . . . . . . . . . . . . . . . . . . . . . . $3,426,533 B: Store Master Funding 26 LLC S: Double 9 Property 2 LLC & 99 Remainder LLC Mtg: Citibank Na $3,426,528 Use: Restaurant/bar, Lot: 70000sf
Hooksett 1308 HOOKSETT RD. . . . . . . . . . . . . . . . . . . . . . . . . . $3,197,533 B: Store Master Funding 26 LLC S: Double 9 Property 2 LLC & 99 Remainder LLC Mtg: Citibank Na $3,197,529
Franklin 951 CENTRAL ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,025,000 B: Stevens Mill Landowner LLC S: RX Franklin NH Invest LLC Mtg: Northway Bank $2,420,000 Use: Commercial Building, Lot: 77537sf
North Hampton 17 POND PATH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,500,000 B: Daniel Horne & Barbara Horne S: Sandra L Wadsworth Tr, Tr for Sandra L Wadsworth T
Franklin 20 CANAL ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 B: Stevens Mill Landowner S: Stevens Mill LLC Mtg: Franklin Svgs Bank NH $1,320,000 Use: Commercial Building, Lot: 105415sf
Bedford 24 WELLESLEY DR . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,000,000 B: Jwalant Vadalia & Bhavna Vadalia S: John R Monson Tr, Tr for Susan B Monson T Mtg: United Wholesale Mtg $1,508,960 Use: Residential-multiple Bldgs, Lot: 1031065sf
Ossipee 1 TERRACE PINES RD. . . . . . . . . . . . . . . . . . . . . . . . . $2,000,000 B: Terrace Pines Rv LLC S: Jane M Wright Tr, Tr for Jane M Wright RET Mtg: Bank of New Hampshire $4,280,000 Use: Mixed Use-prim Comm & Other, Lot: 5419735sf
7,000 7000
7000
Belknap �������������������������� 05/13/22 Carroll ���������������������������� 05/13/22 Cheshire ������������������������ 05/13/22 Coos �������������������������������� 05/13/22 Grafton ���������������������������� 05/13/22 Hillsborough ������������������ 05/13/22 Merrimack ���������������������� 05/13/22 Rockingham ������������������ 05/13/22 Strafford ������������������������ 05/13/22 Sullivan �������������������������� 05/13/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
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Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. April Apr. April ’21
’22
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Apr. 2018
1,015
1,072
2,087
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989
1,265
2,254
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3,407
4,222
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Apr. 2021
778
4,661
5,439
Apr. 2022
657
2,444
3,101
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INDEX 3 3 4 4 5 5 7 8 9 10 10 10 10 10
ings were down 7 percent year-over-year as of March 2022, whereas listings were only down 4 percent year-over-year in counties where the share of institutional buyers was below the national average. And areas where institutional investors were more active in buying homes, renters made up 30 percent of households on average, compared to 27 percent of households where institutional investors weren’t as active.
Number of Mortgages for Single-Family Homes
528 OCEAN BLVD . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,950,000 B: Charter Street LLC S: SaRuN-Sh LLC Mtg: Enterprise Bk & Tr Co $800,000 Use: Mixed Use-prim Comm & Other, Lot: 22216sf
COUNTY
The median price these buyers paid was typically 26 percent below the state median price, NAR said, but that shrank to 20 percent in states where more than 13 percent of homes were sold to institutional buyers. Below that threshold, it sank to 30 percent. The research also found evidence that these institutional investors were helping tighten the housing market. In counties where the investor share was higher than the national average, list-
NEW HAMPSHIRE MARKET STATISTICS
Hampton
PG
Despite the national furor over the influence of large investors on the single-family housing market, very few New Hampshire homes were bought by institutional buyers last year.
Apr. 19
Apr. 20
Apr. 21
Purchase
Apr. 22
00
Apr. 18 Apr.
Apr. Apr.19
’18
’19
Apr. Apr.20
’20
Apr. Apr.21
Apr. Apr.22
’21
’22
❑ Statistics based on single-family home sales ❑ Source: The Warren Group
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