Affordable Housing, Reports and Publications

Case-Schiller Index Expects Varying Home Price Movement Across CT

 

The Commercial Record, published by The Warren Group, reported this week that housing prices across the state are expected by the Case-Shiller index to ball through 2011 except in the New Haven-Milford area after a dramatic drop in median sales prices in the region since their peak in 2006.

The newspaper reported:

It is the only area expected to see a slight increase in prices by the end of the year, according to a recent analysis. By the end of the year, prices are expected to rise 0.7 percent in the New Haven-Milford metro area, the Fiserv Case-Shiller Indexes predict. This is the only area where prices have already bottomed out. In the Bridgeport-Stamford-Norwalk, Hartford and Norwich-New London areas, prices have not yet bottomed out. Home prices in all of those areas are expected to drop throughout the year, and eventually reach bottom. In 2012, all metro areas are expected to see an increase in home prices. The Norwich-New London area came out ontop - with a projected 4.3 percent increase by the end of 2012. Vacancy rates have risen in every Connecticut metro area in the analysis. The Bridgeport-Stamford-Norwalk area saw the greatest increase, rising 2.6 percent over the past 10 years. Even as balance returns to the housing market, Fiserv Case-Shiller data forecasts the pace of recovery will be uneven across metro areas nationwide.

 
 

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