Manchester-Nashua home prices rise by 3.5 percent in June

Nationwide home prices are expected to continue gradual climb

Home prices in the Manchester-Nashua area are increasing and will continue to do so, according to a report by CoreLogic.

Manchester-Nashua home prices, including distressed sales, increased by 3.5 percent in June, compared to the year before. On a month-over-month basis, home prices increased by 1.1 percent.

The pattern falls in line with a national trend of increasing home prices. CoreLogic reports U.S. home prices increased 5.7 percent year over year in June, and will increase another 5.3 percent by June 2017.

The forecast is a projection of home prices using the CoreLogic Home Price Index and other economic variables, including state-level forecasts weighted according to the number of owner-occupied households for each state.

"Mortgage rates dipped in June to their lowest level in more than three years, supporting home purchases," said Dr. Frank Nothaft, chief economist for CoreLogic. "Local markets with strong economic growth have generally had stronger home-price growth. Among large metropolitan areas, Denver had the lowest unemployment rate and the strongest home-price appreciation."

New Hampshire’s unemployment rate remains among the lowest in the country, at 2.6 percent – nationally it sits at 5 percent.