CT Single Family Home Sales Increase In April

In a further sign that Connecticut’s housing recovery may be gaining pace, sales of single family homes took a 41% jump in April. That’s according to data from Boston-based real estate data firm The Warren Group. WNPR’s Harriet Jones reports.

The huge jump in sales in April represents the seventh straight month of gains for Connecticut’s housing market. In the first four months of 2010, almost 6,700 homes in the state have been sold, up more than 30% over the same period of 2009. Prices are also edging upwards, rising just over 3% in April. But Tim Warren, CEO of the Warren Group, says there are still pressures on the market that may check its growth.

“With improved statistics coming out every month, it is natural to speculate whether the tide has turned to bring us into a sellers market. I believe that is premature. High foreclosure rates, the competition of bank owned properties and continued unemployment still make it a challenge to sell a home.”

Condo sales are also rising – up more than 50% year over year in April. The recovery in home sales is not even across the state. In April, Middlesex and Fairfield counties saw the biggest gains. Middlesex also saw a fall in prices however, along with New London and Tolland counties.

For WNPR, I'm Harriet Jones.