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Oh come on now, it’s not that bad if you actually look at the numbers. This is just typical media hype to get people to read it. As the article noted the spring market was strong and August was hardly as bad as it was during the recession. Jay
Well if people read it then they will be informed. If they don't, they stay ignorant. Regardless of a label of good or bad, it should be taken into consideration with other economic data for CT . Here in New England, CT is tied for the highest unemployment rate, has the lowest economic growth, and the lowest wage increases of all New England States. In addition the migration of citizens out of the state, however small, may be comprised of potential buyers. The Real Estate figures may indeed be consequences of these other contributing economic factors.
Does anyone really believe that raising taxes and being behind other New England States economically will improve the Real Estate Market ? Interest rates are very low right now and these are the results? During the recession , interest rates were kept low by QE, that is not the case today.
“As people have less disposable income, you get this negative loop where less demand today means a reduction in spending, which leads to further decreases in demand and spending tomorrow '
Oh come on now, it’s not that bad if you actually look at the numbers. This is just typical media hype to get people to read it. As the article noted the spring market was strong and August was hardly as bad as it was during the recession. Jay
God I hope you're right. August is typically a slow month. Given that this is the worst August in 4 years might be an indicator of a weaker market, bad signs to come. Article says were down 5% compared to last year.
There's no more sub-prime lending (aka Countrywide Mortgage, remember them) that drove the recession, so not sure what the probelem is now, hopefully its just timing.
Well if people read it then they will be informed. If they don't, they stay ignorant. Regardless of a label of good or bad, it should be taken into consideration with other economic data for CT . Here in New England, CT is tied for the highest unemployment rate, has the lowest economic growth, and the lowest wage increases of all New England States. In addition the migration of citizens out of the state, however small, may be comprised of potential buyers. The Real Estate figures may indeed be consequences of these other contributing economic factors.
Does anyone really believe that raising taxes and being behind other New England States economically will improve the Real Estate Market ? Interest rates are very low right now and these are the results? During the recession , interest rates were kept low by QE, that is not the case today.
“As people have less disposable income, you get this negative loop where less demand today means a reduction in spending, which leads to further decreases in demand and spending tomorrow '
Anthony Defusco
As I said this is hardly bad given the Spring selling season was fairly strong. I should remind you and others that Connecticut’s unemployment rate is under the national average, is considered to be well above full employment and is lower or the same as states that people consider to have strong economies (North Carolina, Georgia, Nevada, etc.). We also are No. 3 in Real Gross Domestic Product (adjusted for cost of living and taxes), among the highest in income and, more importantly, are by far No. 1 in disposable income. Jay
A federal judge Monday dismissed a suit by New York, New Jersey, Connecticut and Maryland that challenged a cap on state and local tax deductions Congress imposed as part of its 2017 tax overhaul.
“The States have cited no constitutional principle that would bar Congress from exercising” its authority “to impose an income tax without a limitless SALT deduction,” U.S. District Judge J. Paul Oetken wrote in his opinion.
This Southport home has a contigent sale now , and I'm told received multiple offers. An absolute steal in the 7s.
Jay, can you post the BH Market Report for Q3 when you get it, it should be out soon. Thanks
If you remember, my comment related to paying $1.1 million for it or for buying it at $799,000 and investing an additional $200,000 to upgrade it. It was not necessarily that the house at $799,000 is a bad price.
I am glad that this house appears to have sold. It will be interesting to see what it sells for. I am guessing it will be under asking price. Will see.
I am not sure I got that report sent to me. I think I found it on their website. I will check for it but I think it takes a while to compile the data. Jay
If you remember, my comment related to paying $1.1 million for it or for buying it at $799,000 and investing an additional $200,000 to upgrade it. It was not necessarily that the house at $799,000 is a bad price.
I am glad that this house appears to have sold. It will be interesting to see what it sells for. I am guessing it will be under asking price. Will see.
I am not sure I got that report sent to me. I think I found it on their website. I will check for it but I think it takes a while to compile the data. Jay
Thank you Sir
Fingers crossed for better news this time
Per Coldwell Banker Report, Fairfield County third quarter sales for single family homes were up a bit 5%, but average and median sold prices were both down double digits -14% and -12% respectively.
Wow, ugly!
REAL ESTATE
SNAPSHOT
FAIRFIELD COUNTY
MARKET OVERVIEW
Q3 2019 | Single Family Homes
Per Coldwell Banker Report, Fairfield County third quarter sales for single family homes were up a bit 5%, but average and median sold prices were both down double digits -14% and -12% respectively.
Wow, ugly!
REAL ESTATE
SNAPSHOT
FAIRFIELD COUNTY
MARKET OVERVIEW
Q3 2019 | Single Family Homes
PROPERTIES SOLD 5.17%
AVERAGE SOLD PRICE -13.69%
MEDIAN SOLD PRICE -12.21%
Awesome, any 3 bed SFH homes under 250k in Greenwich yet ?
Per Coldwell Banker Report, Fairfield County third quarter sales for single family homes were up a bit 5%, but average and median sold prices were both down double digits -14% and -12% respectively.
Wow, ugly!
REAL ESTATE
SNAPSHOT
FAIRFIELD COUNTY
MARKET OVERVIEW
Q3 2019 | Single Family Homes
PROPERTIES SOLD 5.17%
AVERAGE SOLD PRICE -13.69%
MEDIAN SOLD PRICE -12.21%
Link?
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As the article noted the spring market was strong and August was hardly as bad as it was during the recession. Jay
