Sununu Launches Plan to Stem Tide of Housing Crisis


A bipartisan task force formed by Gov. Chris Sununu has issued its recommendations for how the state can deal with its housing crisis.

As of this summer, the state’s rental vacancy rate was below 1 percent in virtualy every county, the inventory of homes for sale is at or near record lows, and home prices continue to rise while the number of sales continues to fall.

The year to date median statewide single-family sale price sat at $285,000 as of the end of September according to The Warren Group, publisher of The Registry Review. That’s a 6.53 percent increase over September 2018 and a 22.32 percent increase over the September 2015.

The task force’s 12 recommendations focus on creating statewide and regional housing production goals, a council to help municipalities meet those goals, creating model multifamily zoning tools that towns can adopt, create penalties for towns that drag out an approval process beyond the 65-day state-mandated timeline and speed up courts’ review of appeals of planning and zoning board decisions.

The task force also suggested allowing tax increment financing districts for residential development and ways for towns to benefit more from the business profits tax revenue multifamily developments create.

The governor plans to file two bills in the state legislature.