Trumbull Real Estate and Home Values - 2008 Update

Trumbull Real Estate and Home Values - 2008 Update

Trumbull Real Estate is off to a slow start for the New Year.  Coming off two stable years in Unit Sales and Pricing, 2008 stumbled out of the gate.  While you don't want to jump to any conclusions after one month of date, it does make February take on more importance.

The drop in Home Sales could be tied to the Federal Reserve's highly publicized cutting of interest rates and the expectation rates will be going lower. Buyers may be waiting on the sidelines not wanting to commit until they are sure of their buying power and the real cost of financing. 

I fully expect sales prices and home values to catch up to past years with more data in for February and March.  We are seeing the gap between Sales Price and Asking Price increase. It is now just over 5%. 

In a few weeks, we will be able to see what direction February sales drives the market. Keep you fingers crossed......

If you would like to see the actual sales for Trumbull or any town in Connecticut, please visit my web site at www.tetreau.com