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March 2019 Home Sales And Prices Dip In Connecticut

April 26, 2019

Not even Hartford, Connecticut could withstand a decline in home sales and home prices for March 2019, according to a recent report from The Warren Group. The decline can also be a sign of a dismal remainder of the year for Connecticut's housing market. 

 

"So far in 2019, the three-month trend for sales and prices paid is disappointing for the state's housing market, which has struggled to recover from the last recession, which ended in March 2010," according to National Mortgage News

 

"There were hopeful signs in 2018 when Connecticut registered its third consecutive annual gain in median sale price. The velocity of sales remained a concern, however, not demonstrating strengthening upward momentum."

 

Hartford County has shown an ability to withstand some of the toughest times in the state's housing market however, the report revealed that it performed even worse in March 2019. 

 

"The median sale price slumped nearly 8%, to $209,000, from $228,000 a year earlier, the deepest year-over-year decline of all of the state's eight counties. Sales fell 10.4% on the same basis," according to NMN.

 

Connecticut is also finding it difficult to regain much of the jobs it lost in the recession. While the state has regained 80 percent of the jobs it lost, other neighboring states like Massachusetts are flying at a faster pace, regaining four times the jobs it lost in the recession.

 

To learn more about the housing market troubles that are plaguing Connecticut, click on the image above

 

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