Housing affordability was a major concern among those polled in the first BIA Report on Consumer Confidence of 2023. According to the report, conducted by the UNH Survey Center, nearly half of state residents report spending 30% or more of their income on housing and few think it’s a good time to buy a house in New Hampshire.

“Increasing a diversified housing stock that includes options affordable for more workers has long been a public policy priority for BIA and our members,” said Michael Skelton, president and CEO of the Business & Industry Association. “Many factors contribute to the state’s worker shortage, but the need for more housing is the most pronounced. BIA will continue to advocate for state efforts to restore balance to New Hampshire’s housing supply, which will help businesses, provide more opportunities for workers and strengthen the state economy.”

The report showed some improvement in respondents’ feelings about their personal finances, corresponding with inflation beginning to ebb slightly and unemployment remaining historically low. However, pessimism remains high. Fifty-one percent of respondents think their household is worse off than a year ago, only 13% they are better off, and 35% say their finances are about the same. The percentage of residents who say they are worse off (51%) has declined since November (61%). Among those with a household income below $75,000, 54% say they are worse off than 12 months ago, down from 74% in November.

Click here to view the full report.