Business & Tech
NL County Home Prices, Sales Are Up For May
Home sales, prices in southeastern Connecticut see 20 percent increase during May, The Day reports
Here's something to write home about--home prices and sales in New London County are up for the month of May, The Day is reporting.
According to the article, May single-family home sales in the region are up 22.5 percent from last year and the median price of single-family homes is up 20.2 percent.
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"The spring market has been especially strong in Connecticut," The Warren Group CEO Timothy M. Warren Jr., announced in a release. "We're expecting home sales to continue to soar this summer, thanks to low mortgage rates and affordable prices luring buyers into the market."
The Day points out that although these numbers are good, they're definitely not as high as the numbers New London County saw during the 2006 real estate boom.
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May of 2012 was the fifth month in a row that Connecticut saw "year-over-year increases" the article says, adding that May numbers were up by 15 percent.
Connecticut is, however, seeing a decrease in median home prices from this time last year. According to The Day, prices are about 5 percent lower this year than last.
