ct homes for sale: Lack of Listings Slowing Down the CT Market
- 07/24/18 07:19 AM
As the CT real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the CT housing market will continue to strengthen throughout 2018. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Here’s what a few industry experts have to say about the current inventory crisis: Lawrence Yun, Chief Economist for the National Association of Realtors “Inventory coming onto the market during … (0 comments)
ct homes for sale: Demand for Homes to Buy in CT Continues to Climb
- 07/18/18 07:56 AM
There is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a highly competitive summer CT real estate market. According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012. NAR’s Chief Economist Lawrence Yun had this to say, “Inventory coming onto the market during this year’s spring buying season – … (0 comments)
ct homes for sale: A New CT Housing Bubble Forming... Not Before 2024!
- 03/12/18 08:40 AM
A recent report by CoreLogic revealed that U.S. home values appreciated by more than 37% over the last five years. Some are concerned that this is evidence we may be on the verge of another housing “boom & bust” like the one we experienced from 2006-2008. Recently, several housing experts weighed in on the subject to alleviate these fears. Sean Becketti, Freddie Mac Chief Economist “The evidence indicates there currently is no house price bubble in the U.S., despite the rapid increase of house prices over the last five years.” Edward Golding, a Senior Fellow at the Urban Institute’s Housing Finance Policy Center “There is not likely to be … (0 comments)
ct homes for sale: CT Home Sales Expected to Increase Nicely in 2018
- 09/22/17 11:47 AM
Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that CT home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.
As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the CT market. Contact a Real Estate professional from Dave Jones Realty who can assist you with any of your Real Estate needs! … (1 comments)
ct homes for sale: CT Housing Inventory Hits 30-Year Low!
- 08/10/17 06:38 AM
Spring is traditionally the busiest season for real estate. CT Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. CT homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their needs. New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, Chief Economist for CoreLogic had this to say, “The growth in sales is slowing down, and this … (1 comments)
ct homes for sale: CT Home Inventory Drops Again, Sales Slow
- 07/28/17 06:21 AM
Highlights: Existing CT Home Sales are now at an annual pace of 5.52 million. Inventory of existing CT homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines. The median price of homes sold in CT in June was $263,800. This is the 64th consecutive month of year-over-year price gains. Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (0 comments)
ct homes for sale: Which CT Homes Have Appreciated the Most?
- 03/17/17 06:39 AM
CT home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that CT home prices have increased by 6.9% year-over-year. The CoreLogic report broke down appreciation even further into four different price categories: Lower Priced CT Homes: priced at 75% or less of the median Low-to-Middle Priced CT Homes: priced between 75-100% of the median Middle-to-Moderate Priced CT Homes: priced between 100-125% of the median High Price CT Homes: priced greater than 125% of the median Here is … (0 comments)
ct homes for sale: 2 Tips to Ensure You Get The Most Money When Selling Your CT Home
- 12/19/16 08:21 AM
Every Connecticut homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible. 1. Price it a LITTLE LOW This may seem counterintuitive. However, let’s look at this concept for a moment. Many Connecticut homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below). Instead of the seller trying to ‘win’ the negotiation with … (1 comments)
ct homes for sale: Why You Shouldnt Take Your House Off The CT Market During The Holidays
- 12/16/16 07:21 AM
If you are one of the many CT homeowners who is debating taking your home off the market for the next few weeks, don’t! You will miss the great opportunity you have right now! The latest Existing Home Sales Report from The National Association of Realtors(NAR), revealed that the inventory of homes for sale has dropped to a 4.3-month supply. Historically, a 6-month supply is necessary for a ‘normal’ market, explained below: There are more buyers in Connecticut that are ready, willing, and able to buy now than there have been in years! The supply of homes for sale is not keeping up with the demand of … (0 comments)
ct homes for sale: Existing Home Sales in CT Surge Forward Through Fall
- 11/28/16 08:12 AM
Some Highlights: First-time CT homebuyers made up 33% of all sales in October. CT homes are selling quickly with 43% of homes on the market for less than a month. A limited supply continues to drive up prices for the 56th consecutive month Contact a Real Estate professional at Dave Jones Realty who can assist with all of your Real Estate needs! … (0 comments)
ct homes for sale: Is the Current Pace of Connecticut Home Sales Sustainable?
- 09/08/16 11:58 PM
There are some experts questioning whether the current pace of Connecticut residential home sales is sustainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy Connecticut real estate market. Why the concern?Some are looking at the last three years of Connecticut home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking. However, if we go further back in history, we can see … (0 comments)
ct homes for sale: Connecticut Luxury Home Sales & the Impact of the Stock Market
- 08/11/16 11:12 PM
CoreLogic looked at the correlation between stocks and the sales of upper-end properties in Connecticut ($1 Million+ sales price). The report revealed: “The powerful ‘wealth effects’ generated by the rapid rise in equities between 2009 and 2015 drove a large rise in the sales of Connecticut homes that sold for $1 million or more. Historically, sales of Connecticut homes priced $1 million or more averaged 1.2 percent of all home sales. The spread between high-end sales and equities widened during the housing bubble but then moved more closely in unison. By the time the equity markets had peaked in May 2015, the … (0 comments)
ct homes for sale: Why You Should Hire A Realtor At Dave Jones Realty When Buying A Home!
- 07/31/16 11:11 PM
Many people wonder whether they should hire a real estate professional to assist them in buying their dream Connecticut home or if they should first try to go it on their own. In today’s Connecticut market: you need an experienced professional at Dave Jones Realty! You Need our Expert Guide if You Are Traveling a Dangerous PathThe field of real estate is loaded with land mines. You need an expert at Dave Jones Realty to guide you through the dangerous pitfalls that currently exist. Finding a home in Connecticut that is priced appropriately and ready for you to move in to can … (1 comments)
ct homes for sale: Connecticut Homes Sales Accelerate During the "Dog Days of Summer"
- 07/28/16 11:12 PM
Some Highlights: Existing Connecticut home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million. Inventory of Connecticut homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year. Median Connecticut home sales prices rose to $247,700, 4.8% higher than a year ago and replaced the previous peak in May of $238,900. Contact a real estate professional at Dave Jones Realty who can help with all of your Real Estate needs. … (0 comments)
ct homes for sale: Saving to Buy A Home in Connecticut? What Would You Sacrifice?
- 07/07/16 11:17 PM
Some Highlights: 95% of first-time Connecticut home buyers are willing to sacrifice to make home ownership a reality. The top thing that Connecticut buyers sacrifice are new clothes at 54%. Even repeat or experienced Connecticut buyers say they sacrificed taking a vacation or buying a new car to buy their last home! … (0 comments)
ct homes for sale: Four Reasons to Buy in Connecticut This Summer
- 07/04/16 11:17 PM
Summer is here! The temperature isn't the only thing heating up right now, so too is the Connecticut housing! Here are four great reasons to consider buying a Connecticut home today instead of waiting. 1. Connecticut Home Prices Will Continue to RiseCoreLogic’s latest Home Price Index reports that Connecticut home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate … (0 comments)
Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding home ownership. Consumer Lending Executive, D. Steve Boland, explained: “Homebuyers today are motivated by both emotional and practical reasons. Nearly all want more space, but a majority of homebuyers, especially those purchasing their first home, are also looking for a place to call their own, put down roots and make memories. They value the emotional benefits of owning a home as much as the financial ones.” Boland went on to say: “The path to homeownership is … (0 comments)
ct homes for sale: Vacation Home Sales: Sales Down, Prices Up!
- 04/15/16 04:13 AM
The National Association of Realtors recently released their 2016 Investment and Vacation Home Buyers Survey. The survey revealed many characteristics of both vacation home purchasers and investors. Today, we want to concentrate on the vacation real estate market. The survey found that vacation home sales last year declined to an estimated 920,000, down 18.5% from their most recent peak level of 1.13 million in 2014. However, this is still the second highest number of vacation sales since 2006. Lawrence Yun, NAR’s chief economist explained: "The expanding pool of buyers amidst a dwindling number of bargain-priced properties led to tighter supply and fewer sales and caused the price … (0 comments)
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As the CT real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the CT housing market will continue to strengthen throughout 2018.
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