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Home Sales Up, Prices Down in Connecticut

A report on Connecticut’s real estate situation in September gives mixed signals on the market.

The good news is that the housing market is livelier in Sept. 2012 than the same month in the previous year, with home sales up 2 percent. The bad news for homeowners is that prices have slipped 2.9 percent. 

The latest report from RE/MAX of New England analyzed five states in the region, and Connecticut and Rhode Island are the only two that saw a decline in prices. The median price in Connecticut slipped from $273,000 to $265,000.

Connecticut fared modestly with its improvement in total sales, between a 2.5 percent decline in Vermont and a 5.7 increase in Massachusetts.

Overall New England had a 5.7 percent improvement in sales.

“September’s numbers are encouraging. However, election years tend to result in lower consumer confidence,” said Dan Breault, executive vice president and regional director of RE/MAX of New England. “In New England, we’ve seen an increase in activity throughout 2012, however, prices need to increase to realize a full housing market recovery. We’ll be watching the data post election cycle, carefully.”

The upward trend in sales is consistent – but less positive - than the August home sales released by The Warren Group. Home sales jumped nearly 12 percent in August compared to the same month last year, according to that report. 

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