Report: CT home sales highest in 12 years
An independent report released Wednesday showed single-family home sale prices in Connecticut are the the highest they have been in 12 years, according to Gov. Ned Lamont.
Gov. Lamont called it a "good indicator of a strengthening housing market and positive sign of projected overall increased economic activity."
Citing the Warren Group, a company that collects and compiles data on real estate sales and ownership throughout New England, he says the median sale price of a single-family home in Connecticut in October was $255,000, up nearly 4% from the same time last year. The report notes that the last high for the month of October was at the housing market’s peak in 2007, just before the recession hit.
“It’s encouraging to see home prices continue to rise and recover their value, reaching new levels not seen since the start of the Great Recession,” Gov. Lamont said. “This is a vote of confidence in Connecticut and its economic future.”
“The 12-year high is encouraging because it is a sign that our housing market is beginning to boost after being in recovery from the crash of 2008,” Connecticut Department of Housing Commissioner Seila Mosquera-Bruno said. “Seven out of the eight counties of Connecticut have had an increase in the sale price of homes. Our department is willing to help in any way that we can to keep encouraging growth in the market as well as growth and a path to homeownership.”