According to this New Haven Register article, the Department of Economic and Community Development (DECD) released numbers last week that may signify an upturn in Connecticut’s real estate market. The numbers, which are based on the U.S. Census Bureau’s monthly survey of 128 towns, show that in 2012, the state issued 4,140 new housing permits—the most it’s issued since 2008 and up almost 46% since the December 2011 low of 2,837. New residential construction is generally seen as a leading indicator of market strength. In response to DECD’s report, Joanne Carroll, publisher of Connecticut Builder magazine, said, “there’s very little inventory left and there is a demand for new homes that is pent up….Prices should start climbing very slowly as they have in the rest of the country.”
To access the data, visit DECD’s website and see “December Housing Permits Town Data” or “Monthly Totals/YTD.” (Both are Excel files.)
