Homeownership

The median Vermont primary home sold for $229,000 in 2019, according to Property Transfer Tax records, a 6.5% increase from 2018. This is the largest single year increase in median home prices since before the Recession, and a substantial increase over recent years’ home price growth. Since 2014, Vermont median home prices have increased by an average of 2.7% per year.

This commentary by VHFA Executive Director Maura Collins appeared recently in VTDigger

Vermont home prices continued to climb in the first six months of 2019, based on the latest data from Vermont Property Transfer tax records. The median home sold for $219,500, a roughly 2% increase from 2018.

The economic recovery is being felt among many households, with home equity wealth rising and more Millennials becoming homeowners.

Vermont Housing Finance Agency (VHFA) is seeking a Manager of Business Development for its Homeownership programs.

Last week, the state increased funding for affordable homeownership when Governor Phil Scott signed a bill passed by the Legislature which will add over a million dollars for homeowners in Vermont.

The annual Burlington Young Professionals (BYP) survey conducted by the Lake Champlain Regional Chamber of Commerce reveals that 33 percent of young adults surveyed plan to move out of the area within the next four years. Among the most common challenges cited were the high cost of living, lack of job growth opportunities, and a lack of affordable housing.

Great news!  A Mortgage Credit Certificate provides a mortgage interest tax credit benefit for homebuyers whether or not deductions are itemized. 

A Mortgage Credit Certificate is a federal tax credit for up to $2,000 and unlike a tax deduction, a Mortgage Credit Certificate reduces federal tax liability dollar for dollar for homebuyers.

Vermont home prices reached new highs in 2018, continuing a four year trend of growth. However, household incomes have not kept pace, making it increasingly difficult for low and middle-income Vermonters to become homeowners.

VHFA is pleased to announce the 2018 Top Performers across the local Vermont banks, credit unions and mortgage companies who participate in the VHFA single family homeownership program.  VHFA's participating lenders are essential to meeting VHFA's mission to provide homeownership opportunities for low to moderate income Vermont households.