Connecticut Home Sales Inch Up 4% in July

Single-family home sales in Connecticut rose 4% in July 2009, the first increase in home sales year-over-year in two years, according to a new report from The Warren Group, publisher of The Commercial Record.

“This is a significant pick-up for the housing market in Connecticut, where sales have slumped for months. The last time there was even a slight increase in monthly sales year-over-year was July 2007,” said Timothy M. Warren Jr., CEO of The Warren Group. “Still, declines in monthly median prices continue to exceed 10 percent, a clear sign that the real estate market is still struggling. We won’t see stabilization in home prices until there are consistent gains in home sales.”

Single-family home sales climbed to 2,947 in July 2009 from 2,834 in July 2008. Home sales in Tolland and Windham counties soared by more than 50% in July compared to the same month last year. Only Hartford and Fairfield counties had declines in July home sales. A total of 12,470 single-family home sales traded statewide through July, a 15.5% drop from 14,758 a year earlier.