Residential Real Estate
CT Has Big Drop in Inbound Migration, Moving Company Says
By James Sanna | January 3, 2024 | Reprints | Unlock LinkAn analysis of out-of-state migration by moving truck rental company U-Haul says Connecticut saw a big drop in how many movers it was attracting from out-of-state last year.
Huge Darien Waterfront Property Sells
December 29, 2023 | Reprints | Unlock LinkA 52-acre waterfront property in the exclusive Fairfield County suburb of Darien has traded hands to a mystery buyer.
Home Listings Now an Endangered Species
By Lew Sichelman | December 28, 2023 | Reprints | Unlock LinkIt’s time to place the for-sale existing house on the endangered species list, right alongside the African forest elephant, the Yangtze finless porpoise and other critically threatened varieties.
Fannie, Freddie Economists Predict Only Small Uptick in Home Sales
By James Sanna | December 28, 2023 | Reprints | Unlock LinkThe big mortgage rate drops that are helping the real estate industry ring in the new year shouldn’t be taken as a sign that home sellers will come out of the woodwork in 2024, the top economists at two mortgage market heavyweights say.
Introducing the Winners of This Year’s CR’s Best
December 21, 2023 | ReprintsWinners in our annual reader’s choice poll aren’t determined by who conducts the most business, who has the most revenue or serves the most customers. Instead, it measures the loyalty and satisfaction our readers have with vendors in the real estate and banking fields.
Climate Change-Linked Flooding Driving Millions from Their Homes, Report Says
By Michael Phillis and Camille Fassett | The Associated Press | December 18, 2023 | Reprints | Unlock LinkFlooding is driving millions of people to move out of their homes, limiting growth in some prospering communities and accelerating the decline of others, according to a new study that details how climate change and flooding are transforming where Americans live.
Mortgage Rates Dip Below 7 Percent After Fed Meeting
By Alex Veiga | The Associated Press | December 15, 2023 | Reprints | Unlock LinkThe average long-term U.S. mortgage rate dropped below 7 percent to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
New Haven, Hartford Win If Mortgage Rates Fall, Economist Says
By James Sanna | December 14, 2023 | Reprints | Unlock LinkBetter affordability statistics in both metro areas mean they’ll likely see more pent-up demand released next year as mortgage rates fall in line with growing certainty about the U.S. economy.
CT’s William Raveis Expands Again in Massachusetts
December 11, 2023 | Reprints | Unlock LinkShelton-based luxury residential brokerage William Raveis has bought its second Massachusetts brokerage in just under two months.
White House Acts to Boost Housing
By Lew Sichelman | December 7, 2023 | Reprints | Unlock LinkThe Biden administration is taking steps to help create more affordable houses and apartments, including accessory dwelling units, which could help fill the inventory gap that plagues the housing sector.
Here’s What Top Economists Think 2024’s Housing Market Will Look Like
By James Sanna | December 5, 2023 | Reprints | Unlock LinkSellers giving in to a “new normal” for mortgage rates. Home prices staying roughly flat. Demand for apartments and rental houses staying strong. And life not getting any better for the workaday homebuyer.
Hartford Housing Market Could Be Near Top-Performer in 2024
By James Sanna | December 4, 2023 | Reprints | Unlock LinkSome experts expect the nation’s housing markets to begin a long, grinding climb-out next year from the multi-year inventory dives they’ve been on since 2020, but one Connecticut market is expected to be among the nation’s best.
Homebuilders Ride a Bifurcated Housing Market
By Lew Sichelman | December 1, 2023 | Reprints | Unlock LinkThe existing home market has been stymied – by mortgage rates in the 8 percent range and ultra-low inventory – and it’s created an opening for builders to take credit for double their normal share of sales.
CT Brokerage Donates Thanksgiving ‘Gift Baskets’ to Neighbors in Need
November 28, 2023 | Reprints | Unlock LinkThese “baskets” were really foil roasting pans creatively wrapped and filled with essential Thanksgiving staples, accompanied by a grocery gift card to purchase a turkey.
Younger Buyers Look to ‘Hack’ Their Houses
By James Sanna | November 20, 2023 | Reprints | Unlock LinkAffordability concerns are everywhere in the nation’s many real estate markets, so is it any surprise that the youngest buyer cohorts are increasingly looking to rent out parts of their homes to make ends meet?
Typical Homebuyer Now Makes $107K
November 17, 2023 | Reprints | Unlock LinkIn another sign of just how expensive American homes and monthly mortgage payments have become, the National Association of Realtors says the typical homebuyer’s income jumped nearly $20,000 in one year.
Don’t Put Your Earnest Money at Risk
By Lew Sichelman | November 16, 2023 | Reprints | Unlock LinkAttaching a check to the offer on a house you hope to purchase is thae right way to signal your intentions to the seller. But that means you need to keep your side of the bargain, too.
Share of Homes Bought with Cash Hits Highest Level in Nearly a Decade
By Alex Veiga | The Associated Press | November 9, 2023 | Reprints | Unlock LinkHomebuyers who can afford to bypass the highest mortgage rates in two decades are increasingly forgoing financing and paying all cash.
William Raveis Buys Massachusetts Brokerage
By James Sanna | November 6, 2023 | Reprints | Unlock LinkShelton-based luxury brokerage William Raveis Real Estate has planted its flag in Massachusetts’ Pioneer Valley region along the Connecticut River with the purchase of a local firm with offices in Northampton and Amherst.
Average Mortgage Rate Slips in First Drop in Seven Weeks
By Alex Veiga | The Associated Press | November 3, 2023 | Reprints | Unlock LinkThe average rate on the benchmark 30-year home loan fell slightly this week, ending a seven-week climb – modest relief for prospective homebuyers even as home loan applications have slumped to their lowest level since 1995.