Buyers Market
Sellers Market
Overheated Market
Bubble Market
In every market including all of the above there are always sales, therefore, there are always buyers and sellers.
Lately in Connecticut the bias has been toward a buyers market. Prices have held up well even though units sold have fallen. Since CT doesn't have mega subdivisions being developed we are not as effected as other areas of the US because of new home sales weakness.
Due to our proximity to New York and Boston with their high cost real estate, we seem to generate a flow of city dwellers cashing out of their nicely appreciated homes and into our bigger affordable ones. The Bronx alone enjoyed a 29% appreciation from 2005 to 2006. A person selling their Bronx home and buying in CT would probably look back years from now and tell of how they played both market perfectly.
Real Estate is more complex than any other investment if it also will be your home. A good time to buy is always based on the wants, needs and financial considerations of the buyer.
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