Residential Real Estate
Fannie Mae Predicts Mortgage Rates Below 6 Percent This Year
January 22, 2024 | Reprints | Unlock LinkEconomists at government-owned mortgage-buying giant Fannie May say they think residential mortgage rates might drop below 6 percent this year, sometimes seen as a critical horizon to get home sellers back on the market.
You Rarely Know All Your Agent Does
By Lew Sichelman | January 19, 2024 | Reprints | Unlock LinkGood real estate agents go to great lengths to bring a deal to fruition. And much of what they do is behind the scenes, so you’ll never see it. And you think they don’t earn their commissions?
Too Many Agents, Too Little Training
By Lew Sichelman | January 11, 2024 | Reprints | Unlock LinkMost brokerages tend to hire anyone who can fog a mirror, turning them loose with hardly any training other than what they learned to pass their licensing tests. And as a result, the business is overrun with too many agents chasing too few deals.
Four CT Real Estate Leaders Land on ‘Power 200’ List
By James Sanna | January 9, 2024 | Reprints | Unlock LinkFour Connecticut brokerage executives have landed spots on an influential ranking of the top figures in the American real estate industry.
CT Home Sales Declines Could Be Slowing
By James Sanna | January 4, 2024 | Reprints | Unlock LinkNew home-sales data covering November 2023 shows that year-over-year declines in condo and single-family sales appear to be growing less severe.
New President Takes the Helm at CT Realtors
By James Sanna | January 3, 2024 | Reprints | Unlock LinkIt’s a new year, and that means new leadership for the state’s biggest Realtor trade group.
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.