Single-family house sales and prices were flat in October from a year ago, but units with a contract to purchase rose sharply in the period, the Greater Hartford Association of Realtors reports.
Sales rose 1 percent to 799 in October from 701 last year, the association said.
But pending home sales rose 35 percent to 889 from 657.
“The large jump in pending sales is most likely attributed to first-time home buyers who recognize that now is a great time to buy,” said CEO Jeff Arakelian. “Hopefully Congress will extend and expand the tax credit in order to keep our housing market moving.”
The length of time a house spent on the market also grew to 72 days from 62 days last year.
The median sale price remained stable at $220,000 compared to $222,000 last year, the Realtors group reports.
