Home Sales and Prices Up in May

Connecticut REALTORS® reports that the single-family residential home median sales price is $260,000 which reflects a 4.0 percent increase from $249,900 in that same time period last year. Median indicates that half the homes sold for more and half for less. Single-family residential home sales in Connecticut increased 10.0 percent comparing May 2017 to May […]

Expect the ‘longest economic expansion’ since WWII, says economist

Don’t hold your breath for a recession anytime soon, says Cushman & Wakefield’s global chief economist Key Takeaways Kevin Thorpe, global chief economist at Cushman & Wakefield, thinks there’s little cause to worry about a recession in the next couple of years. Consumer confidence is high, and although the government is experiencing gridlock in Washington, […]

Fed announces third rate hike in 7 months

Committee cites strengthening labor market and declining inflation As anticipated, today the Federal Reserve implemented a quarter-point federal funds rate hike, increasing its benchmark target to between 1 percent and 1.25 percent “in view of realized and expected labor market conditions and inflation,” the Federal Open Market Committee said. The decision marks the fifth hike […]
Recently, an Office Manager shared with me a story about one of his agents that exemplifies the spirit of Eastern Connecticut and the Realtors who work here.  With permission, we’d like to share it with our friends and colleagues. Just recently I sent our agent Donna Navarro (Danielson office) a note congratulating her on a very difficult […]

CT Home Sales Down in April

Connecticut REALTORS® reports that the single-family residential home median sales price is $246,000 which reflects a 0.4 percent decrease from $247,000 in that same time period last year. Median indicates that half the homes sold for more and half for less. Single-family residential home sales in Connecticut decreased 5.4 percent comparing April 2017 to April […]

NAR bets on Upstream with additional $9M in funding

Data management company expected to repay funds upon hitting profitability WASHINGTON — The board of directors of the National Association of Realtors (NAR) last week approved an additional $9 million in funding for broker data management platform Upstream. The company behind the platform, UpstreamRE, is expected to repay the funds when it achieves profitability. The funds […]

Making an Offer: 5 Mistakes to Avoid

In competitive housing markets across the country, making an offer that sticks has become increasingly difficult. Ensure your client doesn’t make the process even tougher by succumbing to one of these common mistakes.     Click here to find out what to avoid!       Source: “In It to Win It: Land Your Dream Home […]

What’s driving real estate’s home listing shortage?

There’s a definite lack of housing inventory, and part of it can be attributed to sellers staying put Key Takeaways Most sellers are also hoping to buy, so they are facing the same market constraints as buyers. Housing supply has not kept up with demand because building has become increasingly expensive. Rising mortgage rates and […]

Is Trump’s tax plan good for homeowners? Nope, says NAR

The country’s largest trade association released a statement that said the tax plan would hurt homeownership Key Takeaways “By doubling the standard deduction and repealing the state and local tax deduction the plan would effectively nullify the current tax benefits of owning a home,” said NAR President Bill Brown. The proposed reform would reduce the […]