April 21, 2018

Single-Family House Sales Improving

Image from Verani Realty

It’s always nice to hear good news about the housing market, and the month of March provided a bit of that.  Single-family house sales rose this past March in the greater-Hartford area.  In fact, house sales have gone up 24% since March of last year.  Not only that, but homes are selling faster with an average time of three months on the market as opposed to four.  It’s one sign of an improving economy that I know many of us are glad to see.

Overall, with pending home sales also on the rise, it appears the spring sales numbers will be significantly higher than last year.  Home prices are still catching up, however, probably due to a combination of the still higher-than-average unemployment rate and languishing wages.  It will take time for positive changes across the entire spectrum, but housing market improvements are heartening.

For more details, take a look at this recent article from the Hartford Courant.