More bad news…or is it?

Last week we received the March housing numbers and of course sales “plummeted” and “prices slid” and the headlines declared “Sour Note on Housing!” Though the numbers don’t lie as I have stated in the past, real estate is local, local, local. The North Central Connecticut market (the 10 or so towns North of Hartford and East & West of I-91) are seeing signs of a rebound.

Inventory is trending down while Under Contract units are increasing (these numbers will not be reflected until the May and June “sales” numbers are publicly published). Rates remain low and 1st time home buyer mortgage money is readily available

Some buyers are sitting on the fence hoping to time the bottom of the market, but increasingly we are finding savvy buyers taking the plunge. They know that they are buying a home that just happens to be a good long-term investment too. They will occupy their home with their families, make improvements to it, and enjoy all of the benefits – both tax & pride of ownership. They are doing this while choosing from a wide selection of houses and qualifying with historically low rates.

Instead of relying on the Headlines we think understanding and evaluating the local market is a wise move.