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Home Sales Up, Prices Down in Connecticut

A report on Connecticut’s real estate situation in September gives mixed signals on the market.

 

The good news is that the housing market is livelier in Sept. 2012 than the same month in the previous year, with home sales up 2 percent. The bad news for homeowners is that prices have slipped 2.9 percent.

The latest report from RE/MAX of New England analyzed five states in the region, and Connecticut and Rhode Island are the only two that saw a decline in prices. The median price in Connecticut slipped from $273,000 to $265,000.

Connecticut fared modestly with its improvement in total sales, between a 2.5 percent decline in Vermont and a 5.7 increase in Massachusetts.

Overall New England had a 5.7 percent improvement in sales.

“September’s numbers are encouraging. However, election years tend to result in lower consumer confidence,” said Dan Breault, executive vice president and regional director of RE/MAX of New England. “In New England, we’ve seen an increase in activity throughout 2012, however, prices need to increase to realize a full housing market recovery. We’ll be watching the data post election cycle, carefully.”

The upward trend in sales is consistent – but less positive - than the August home sales released by The Warren Group. Home sales jumped nearly 12 percent in August compared to the same month last year, according to that report. 

undisclosed2u October 18, 2012 at 01:28 AM
That's what happens when Dems take over a state. Higher taxes, lower land values, lower confidence. Can you blame people? Our neighborhood is being devastated by the falling prices of homes. If forecloaures are really up 34% as your article states, then perhaps it was the govt. encouraging everyone and anyone to buy a home even if they couldn't put down the conventional 20% deposit. After all, we are all equal, arent we? Aren't we/ And now, we are also told by big daddy govt. that we must pay the mortgage of these people who are unable to make payments. Patch just wrote that, too "foreclosed homeowners could receive payments...." I'm so happy that I worked so hard to put my downpayment together and worked all these years to pay my mortgage each month! Are we all equally happy?

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