Connecticut House Prices Fall For Sixth Month In A Row

people are stuck in their homes cause they can't get approved by banks for new mortgages causing bankrupsy - unlike Dodd and Obama - now there's a parallel - Dodd and Obama get mortgage deals while their wives get special interest no show high salaried jobs - in the private sector no less. Who says Democrats aren't pro-corporate america.

Media price is useless.

Does it mean that house prices have fallen or does it mean that people with smaller homes are selling but people with larger homes are waiting or does it mean that builder are making more small homes and less large ones?

The media home price can fall even if the market were stable. This is useless information.

What'd I'd like to know is the year-to-date price change for a 1800 sf, 2500 sf and 3500 sf home in predefined sample areas

I meant "median" obviously

I think that these statistics varry town to town, and assessing the change by county does not give much of an indication of how the market has changed. For example, the areas of the state with the most 100% financing loans, and subprime loans are the inner city areas. These areas are most likely to have short sales and foreclosures based on the loan types. The short sales and foreclosures bring down the value of a neighborhood and skew the statistics.
To learn how your neighborhood is doing, ask a local realtor. It does not cost anything to have a conversation with a professional who works in this field every day.

A Realtor wrote:

I think that these statistics varry town to town, and assessing the change by county does not give much of an indication of how the market has changed. For example, the areas of the state with the most 100% financing loans, and subprime loans are the inner city areas. These areas are most likely to have short sales and foreclosures based on the loan types. The short sales and foreclosures bring down the value of a neighborhood and skew the statistics.
To learn how your neighborhood is doing, ask a local realtor. It does not cost anything to have a conversation with a professional who works in this field every day.

Good advice. How about a 'conversation' with our village politicians, whose irresponsibly self-serving push is to actually RAISE our property taxes, rather than cut their own bloated pay and benefits. Time for a "tea party" in Simsbury...

American citizen wrote:

people are stuck in their homes cause they can't get approved by banks for new mortgages causing bankrupsy - unlike Dodd and Obama - now there's a parallel - Dodd and Obama get mortgage deals while their wives get special interest no show high salaried jobs - in the private sector no less. Who says Democrats aren't pro-corporate america.

This string of loosely related BS gave me a headache. Go read a book.

Mrs Weicker wrote:

<quoted text> Good advice. How about a 'conversation' with our village politicians, whose irresponsibly self-serving push is to actually RAISE our property taxes, rather than cut their own bloated pay and benefits. Time for a "tea party" in Simsbury...

Bring your tea bags to Avon; we'll supply the overpriced water and have a party. ;)

Americans have no one to blame for high home prices (that now collapse) EXCEPT THEMSELVES. We loved the ATM-like home equity cash outs, we HAD to sell for more (and buy for more), more, more, more, and now- the correction.

If people stopped themselves from their wet dreams of owning home THEY COULD NOT AFFORD ANYWAY, this would not have happened. No one asked what was a reasonable price, they just inflating prices with what they were willing to pay. And the banks were willing to take a gamble on lending to people who shouldn't have qualified to own a home in the first place.

And that's the reality now- there's a certain segment of the American population that are NOT credit-worthy and can;t buy homes, no matter how hard you try to prop them up. It's going to be a SMALLER MARKET for a long time, get used to it.

Prices will go up when there's LESS on the market.

Missing from this article (taken from actual press release from Warren Group) are the following bad figures for Fairfield County and Litchfield County.
"Fairfield and Litchfield counties had the most dramatic drop in sales and median home prices during the beginning of the year, helping to drag down the overall housing market in Connecticut. Single-family home sales in Fairfield County plunged 35.2 percent in the first quarter to 745 from 1,149 last year. Fairfield County’s median home price dropped to $370,000 in the first three months of 2009, a 27.2 percent decrease from $508,000 during the same period in 2008. Litchfield County’s home sales totaled 228 in the first quarter, or 32.3 percent lower than the 337 transactions last year. Meanwhile, the county’s median home price was down 24.6 percent to $205,000 in the first quarter from $272,000 a year earlier.
Connecticut’s condominium sales during the first quarter also fell to the lowest level for a first quarter in at least 22 years. Condo sales plunged 39.5 percent to 1,103 from 1,823 in the first quarter of 2008. In March, 432 condos sold, a 37.2 percent drop from 688 in March 2008. Monthly condo sales have fallen by 20 percent or more year-over-year for the last 15 months.
But median condo prices haven’t retreated as much as single-family home prices. The first quarter median condo price fell 6.3 percent to $178,000 from $190,000. The median price for condos sold in March was off 5 percent, declining from $189,825 to $180,250.

American citizen wrote:

people are stuck in their homes cause they can't get approved by banks for new mortgages causing bankrupsy - unlike Dodd and Obama - now there's a parallel - Dodd and Obama get mortgage deals while their wives get special interest no show high salaried jobs - in the private sector no less. Who says Democrats aren't pro-corporate america.

Boohoo Boohoo, get over it. Get a life

I'm glad I sold my house and moved out of CT when I did. It's too bad Obama doesn't believe in military superiority or PW & EB would be begging workers to move to Hartford/New London Counties in order to fill orders.

It's better to have a weapon and never use it than to need a weapon and not have it...

I know. Weapons are bad. Bad.

T-Man wrote:

<quoted text>
This string of loosely related BS gave me a headache. Go read a book.

No, not so loosely related. The banks looted our treasury of our tax dollars, and they are giving sweetheart loans to those who aided them, i.e. Congress and other royalty.