CT Home Loans and Connecticut Mortgages's Blog

House prices?

Mon, 23 Oct 2006 22:48:20 -0500

Home price appreciation will undergo a "modest" decline next year in California, and home sales will fall a projected 7%, according to the California Association of Realtors.

In its 2007 California Housing Market Forecast released at the California Realtor Expo in Long Beach, CAR predicted that the median home price in California will decline 2% next year to $550,000. (This year's projected median home price is $561,000.) The forecast calls for sales of 447,500 units, compared with this year's projected total of 481,200, the association said.

"The housing market clearly downshifted in 2006 from the record-setting sales and robust price gains of the last few years," said CAR president Vince Malta. He said the 2007 sales decline is not expected to be as steep as this year's.

What can do you expect in 2007?

Trick or Treat?

Mon, 23 Oct 2006 22:41:56 -0500

Has this year been a Trick Or a Treat For You? Most real estate agents I have spoken to have seen their numbers decline in 2006 with the market shifting to a buyers market. Many buyers are looking and looking and looking and not pulling the trgger which is causing sales to slow.

Are you on pace to meet? exceed? or come in below last years sales for Real Estate?

Slow Sunday For Open Houses, How about yours?

Sun, 22 Oct 2006 19:07:56 -0500

After visiting 5 open houses today most of the agents are reporting slow to very little activity today. Maybe it's the cold or grey day? Or maybe it's the 4 gazillion open houses in the sunday papers?

This is a buyers market and buyers seem to be visiting every house on the market before they make an offer, even the very nice homes are sitting long than the norm over the past year.

How was your opne house today?