There are some experts questioning whether the current pace of Connecticut residential home sales is sustainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy Connecticut real estate market.

Why the concern?

Some are looking at the last three years of Connecticut home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking.

However, if we go further back in history, we can see the real picture. After taking out the “boom & bust” years, the pace of CT sales is growing at a quite natural pace.

And new Connecticut home sales are way below historic numbers. Trulia’s Chief Economist Ralph McLaughlin explains:

“Adjusted for population, new CT home sales are at about 63% of their fifty-year average level—way better than 2011, but nowhere near heated.”

Bottom Line

The current pace of Connecticut residential home sales definitely seems sustainable. Contact a real estate professional from Dave Jones Realty who can assist with any of your Real Estate needs!