Deep Dive: Connecticut housing market still strong moving into fall
Caleb Silver from Investopedia breaks down Connecticut housing market data in this week's Deep Dive.
Silver says Connecticut has one of the strongest housing markets in terms of home price sales in the tri-state area.
The national average July to July was 19.7% in terms of increases, but Connecticut is out pacing that in many counties especially Litchfield county where home prices increased 24.8% from august of this year to august of last year.
Up in New Haven it’s 23.7%, Fairfield County 20.7% and Hartford is not keeping up with the pace of prices, it is only up 17.1%, but Connecticut's housing market is still strong.
Silver says typically the fall is the weakest time of year for home sales, but there is so little inventory right now that it is still going to be very strong for folks looking to sell their homes at the right price point.
He says expect a drop right now, but there is so little inventory and mortgage rates are still so low that he expects the housing market to remain strong.