Existing FHA Condo Rules Extended

On August 24, 2016 HUD extended their existing temporary guidance on condos, without the changes brought about in HR 3700. HUD continues to work on the regulatory guidance to implement the new law, but their existing guidance was set to expire. In notice 2016-13, they simply extend the existing guidance until they can publish the […]

Fitch Ratings: Home prices go from overvalued to undervalued in last decade

It’s no secret that home prices dipped considerably after the recession. But have they dipped too low? According to Fitch Ratings’ U.S. sustainable home price model, home prices in Connecticut were 21 percent overvalued in 2000. That same model now shows they are 19 percent undervalued. “In Connecticut, the recovery in the economy has outpaced […]

Existing-Home Sales on Course for Best Year since 2006, Student Loan Debt Slowing Prospective Buyers

WASHINGTON (May 12, 2016) – Relentless supply constraints and home price growth outpacing wages are testing the patience of homebuyers this year, but existing-home sales are still on track to come in at their highest pace since 2006, according to Dr. Lawrence Yun, chief economist of the National Association of Realtors®.  Yun presented his midyear […]

Home Sales Rise Significantly in February

Connecticut REALTORS® reports that single-family residential home sales in Connecticut increased 19.9 percent comparing February 2016 to February 2015. The median sales price of $231,000 represents a 2.7 percent increase from $225,000 in that same time period. Median indicates that half the homes sold for more and half for less. Total units of homes sold […]