The Warren Group recently released Q3 data indicating that the number of home sales in Connecticut has increased every month in 2012.
The median sale price, on the other hand, is the lowest it's been in 10
years. Data on condo sales and prices
shows a similar trend.
But, according
to this
press release, the fact that prices are at a low is not necessarily a bad
sign. The Warren Group CEO, Timothy
Warren, stated, “the drop in prices is concerning, but it’s typical to see
sales volume increase before prices do in a recovery period.” Warren remarked that the increases in
year-to-date home sales by 13.1% and condo sales by 7.2% are strong signs that
the housing market is recovering.
