Connecticut’s housing market continues to be stable, not robust. With mounting inventory, price declines are likely, however the number of sold properties should remain the same or slightly increase in 2016.
Connecticut’s housing market continues to be stable, not robust. With mounting inventory, price declines are likely, however the number of sold properties should remain the same or slightly increase in 2016.
The higher-end market has seen growing inventory and longer days on market.
Builders are still not showing signs of confidence in single-family projects, thus limiting the newer home selection.Â
As inventory mounts and pricing declines slightly, there will be opportunity for investors and first-time home buyers.
The market could change dramatically with rising interest rates or further exiting of Connecticut employers.
If a large employer such as GE decides to leave Connecticut causing relocation or unemployment, there could be an influx of homes to the market, further impacting price.
The election will have its usual impact on the market, leaving some prospective buyers on the sidelines.
See what others are saying on HBJ's Economic Forecast 2016 page.
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