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Home Sales in Connecticut Hit 5-Year High

Connecticut saw single-family home sales reach a five-year high in January, according to data from ""The Warren Group"":http://www.thewarrengroup.com.


Home sales at the start of the year rose 14 percent to 1,519, the highest level since January 2008 when there were 1,653 recorded sales. The gain also marks the 13th straight month of increases.

""We ended 2012 on a pretty positive note, and this is carrying into January,"" said Timothy M. Warren Jr., CEO of The Warren Group. ""Recent pending sales data are a hopeful sign for a strong spring market. And given low mortgage rates and steady prices, there are positive signs that 2013 will be a second year of recovery.""

Warren also added low inventory is driving up prices.

In January, the median sales price for single-family homes in the state increased for the fourth straight month, rising by 2.4 percent from a year ago to $215,000.

About Author: Esther Cho


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