CT Home Sales Rise in March
Experts warn that the housing market recovery is fragile
By Harriet Jones - WNPR
Published: May 05, 2010
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CT Home Sales Rise in March
Home sales in Connecticut surged more than 30% in March, but experts warn that the housing market recovery is fragile. WNPR’s Harriet Jones reports.
Sales of single family homes were up 37% in Connecticut in March, over the sales figures for the same month last year. That’s according to the Warren Group, a Boston-based real estate data firm. This represents the sixth consecutive month of sales gains in the state. Prices followed suit, rising just more than 8%, and the median price for a single-family home in the state is now $240,000. All housing analysts agree the market has been boosted by the recently expired first time home buyer tax credit and the Warren Group’s Vincent Valvo says the market may be in for a bumpy ride ahead.
"You know what you get in spring on the highways is you get a big pothole, and I think that’s what we’re heading into now with the spring housing market. With the expiration of the tax credit I think we’re heading into another big dip that’s going to jar this market uncomfortably."
The recovery has not been uniform across the state. In March, house prices in Middlesex, Tolland and Windham counties all saw a decline.
For WNPR, I'm Harriet Jones.
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With the expiration of the tax credit, I think we’re heading into another big dip that’s going to jar this market uncomfortably.
-The Warren Group’s Vincent Valvo
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