CT Home Prices and Job Recovery Lagging Behind

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CT Home Prices and Job Recovery Lagging Behind

By Jamie Kasulis | CTMirror.org

Connecticut home prices continue to rise at a much slower rate than those across the rest of the nation, according to recent data from the Federal Housing Finance Agency.

Connecticut home prices appreciated 3.6 percent over the last year. With a national average appreciation of 6.9 percent between the first quarters of 2017 and 2018, Connecticut ranks 38th, up from 47th last year.

The most recent FHFA report gives national as well as state-by-state averages of home appreciation rates year-over-year. The information is gathered based on sales transactions and refinancing of individual single-family homes mortgaged by the Federal National Mortgage Association (“Fannie Mae”) or the Federal Home Loan Mortgage Corporation (“Freddie Mac”).

Homes nationwide have appreciated steadily since 2012, exceeding pre-recession prices by mid-2016. Meanwhile, Connecticut home prices have not yet returned to where they once were. The FHFA also calculated appreciation over the last five-year…TO READ MORE CLICK HERE

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June 20, 2018

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