Where Have Home Values Been and Where Are They Going?

If you’ve been thinking about buying or selling a home, there’s one big question you might be asking:
What’s going on with home values?

We hear it all the time—from first-time buyers, long-time homeowners, and folks eyeing the next big move. The truth is, home values have changed a lot over the past few years. And they’re still on the move.

In this blog, we’ll look at where prices have been, what’s happening now, and where they could be headed next—especially here in New Hampshire. Whether you're looking at Litchfield houses for sale, dreaming of a cozy home in the woods, or just curious about Southern NH houses for sale, this breakdown will help.

Let’s talk real estate in a way that makes sense. No confusing charts. No big, scary words. Just the real talk.

The Rise in Home Values Over the Last 5–10 Years

Let’s start at the beginning—or at least not too far back.

Around 2015, home values started climbing steadily. Why? A mix of low mortgage rates, more buyers, and not enough homes.

Then, in 2020, things got wild.

When the pandemic hit, a lot changed. People moved. Families needed more space. Remote work meant folks could live anywhere. And mortgage rates dropped to historic lows.

All of that made the demand for homes shoot up—especially here in New Hampshire. More people from out of state started looking for peaceful, beautiful spots like Litchfield and Southern NH towns.

Home values soared. In some areas, prices jumped 30% to 50% in just two years.

If you owned a home then, your equity probably skyrocketed. That’s a big win.

What’s Happening With Home Values Right Now?

So, where are we now? The market isn’t as red-hot as it was in 2021, but home values haven’t crashed either.

Instead, we’re seeing a shift.

Here's what’s going on:

• Mortgage rates are higher. That’s slowing things down a little.

• Inventory is still low. There aren’t enough homes for all the buyers.

• Sellers still have the upper hand. But buyers have more breathing room now.

Prices have leveled out a bit in some places. In others, they’re still rising—but more slowly. That’s actually a good thing. We want steady growth, not a rollercoaster.

In towns like Litchfield, Hudson, and Londonderry, homes that are priced right are still selling quickly. Buyers are being pickier, though. They’re looking for value, not just any house.

Will Home Values Go Down?

We get this question a lot—and it’s fair to ask.

Nobody has a crystal ball. But here’s what we do know:

Most experts don’t expect a big drop in home values.

That’s because demand is still strong, and inventory is still tight. There just aren’t enough homes to meet the need, especially in Southern NH.

Yes, prices may cool a little. But we’re not looking at a crash. In fact, most forecasts show a slow and steady rise over the next few years.

This means if you’re waiting for prices to fall before you buy—you might be waiting a long time. And you could miss out on building equity sooner.

What’s Pushing Prices Higher in Southern NH?

New Hampshire has something a lot of folks want—beauty, safety, space, and no state income tax. That’s a big deal.

Here’s why home values are holding strong in this area:

• Out-of-state buyers: People from MA, CT, and NY are moving north.

• Low taxes: NH’s property taxes are fair, and there’s no income tax.

• Quality of life: Great schools, small towns, clean air, and quiet neighborhoods.

• Not enough homes: Builders can’t keep up with the demand.

If you look at Litchfield houses for sale right now, you’ll see most homes are priced competitively. And they’re still getting attention. Buyers know this area offers something special.

Will Home Values Keep Going Up?

That’s the million-dollar question—and here’s the honest answer:

Most likely, yes. But not at the wild pace we saw during the pandemic.

Here’s what the experts say:

• Prices will grow slowly. Think 2%–5% each year, not 20%.

• Mortgage rates may dip later. That could bring more buyers into the market.

• Inventory will stay tight. That keeps prices from dropping.

It’s a healthy shift. Steady growth helps everyone—buyers, sellers, and homeowners looking to stay put for a while.

What It Means for Sellers

If you’re thinking of selling, you’re still in a strong spot.

Homes in good shape, priced right, and in sought-after areas are still moving fast. Think Southern NH towns like:

• Litchfield

• Hudson

• Pelham

• Derry

• Londonderry

And don’t forget—if you’ve owned your home for even just 3 to 5 years, you’ve probably built a nice amount of equity. That gives you freedom to move, upgrade, or even downsize.

What It Means for Buyers

Buying right now might feel a little tricky with rates up. But here’s the flip side:

• You may face less competition than during the crazy boom.

• You can be pickier and take your time.

• Prices aren’t dropping, but they’re not skyrocketing either.

Plus, you can always refinance later if rates come down.

If you’re serious about owning a home, it’s still a good time to start the process—especially before prices creep up again.

And remember: The right Southern NH houses for sale are still out there. You just need a good REALTOR® by your side.

How to Stay Ahead in This Market

Want to be smart with your real estate decisions? Here are a few simple steps:

1. Know Your Budget

Before you look at homes, talk to a lender. Get pre-approved. It’ll help you move faster when the right house shows up.

2. Work With a Local REALTOR®

You need someone who knows the market. Someone who understands Litchfield houses for sale or the ins and outs of Southern NH towns. That local knowledge can save you time and money.

3. Watch the Trends

Stay tuned in—but don’t panic at every headline. Focus on the big picture, not short-term noise.

4. Think Long-Term

Don’t try to time the market perfectly. Real estate is a long game. If you buy smart, stay a while, and take care of your home, you’ll build equity over time.

What to Watch Going Forward

As we move into the rest of 2025 and beyond, keep an eye on:

• Mortgage rates – If they drop, expect more buyer activity.

• New construction – More homes might help balance supply and demand.

• Local job growth – New businesses bring new residents.

• National trends – But always compare them with what’s happening locally.

Real estate is local. What’s happening in big cities isn’t always what’s happening here in NH.

The Bottom Line on Home Values

Here’s the simple truth:

Home values have gone up fast over the last few years. Now they’re leveling off, but they’re still climbing—just more slowly.

In New Hampshire, especially in Southern NH, the market remains strong. Demand is high, supply is low, and people want to live here.

If you're buying, it’s still a solid time to start. If you're selling, you likely have equity on your side. And if you're staying put? Congrats—you’re sitting on a powerful investment.

Where Have Home Values Been and Where Are They Going?

Whether you're looking at Litchfield houses for sale, exploring other parts of Southern NH, or just keeping an eye on your home's value—it’s always smart to stay informed.

The best part? You don’t have to do it alone.

Reach out to a local REALTOR® who knows the market and has your best interest at heart. They’ll help you make the right move—at the right time.

If you need more information on home values, or are ready to sell your house give us a call at (603) 883-8840. You can also sign up for your dream home search or reach out to Our Agents for more information. We’d love to help you with your real estate needs.