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Greater Hartford Sees Dip in Home Prices and Home Sales in June 2018


June 2018 is shaping up to be one of the defining months for many housing markets across the nation. A recent report reveals that the Greater Hartford region is seeing both a drop in home prices and home sales in June.

"The median sale price of a single-family house — in which half the sales are above, half below — dropped 6.3%, to $225,000 from $240,000 for the same month a year ago, according to the monthly report from the Greater Hartford Association of Realtors," according to National Mortgage News.

"Sales fell 2.7% in June, compared with a year earlier, the association, an industry group that tracks a 57-town area from Enfield south to Middletown."

Connecticut has been struggling to bounce back following the last recession that the U.S. had gone through, according to the report. Prices today are reportedly 15% lower than peak home prices of 2007.

For Connecticut, it looks like much of the blame is being laid on Connecticut's struggling job market. Fortunately, the report reveals that in recent months, the state has announced a series of new openings putting 6,100 jobs on the market.

Despite the 6,100 new jobs, there is still progress to be made in order to bring the home prices and home sales back to pre-recession numbers.

To learn more about the current climate of Connecticut's housing market, click on on the image above.

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