Residential Real Estate
Survey: 1 in 5 Millennials Don’t Think They Can Be Homeowners
By James Sanna | September 11, 2023 | Reprints | Unlock Link
A new poll suggests a huge swath of the biggest generation in America right now see huge barriers to achieving homeownership for themselves.
IRS Plans Back-Taxes Crackdown on 1.6K Millionaires
By Fatima Hussein | The Associated Press | September 8, 2023 | Reprints | Unlock LinkThe IRS announced Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes.
Analysis: Hartford Still Among Nation’s Most Affordable Cities
By James Sanna | September 7, 2023 | Reprints | Unlock LinkDespite a big jump in mortgage rates and very low inventory that’s pushing home prices higher, Greater Hartford remains one of the nation’s most affordable housing markets, a new report says.
Statewide Home Price Up as Fairfield County Prices Cool
By James Sanna | August 31, 2023 | Reprints | Unlock LinkStatewide median home sale prices are up again even as the total number of homes sold remains significantly below last year’s tallies.
NAR President Quits After Explosive Sexual Harassment Investigation
By James Sanna | August 29, 2023 | Reprints | Unlock LinkKenny Parcell has resigned his post after 19 NAR staffers and members accused him of sexual harassment in an investigation published Saturday.
Two New Haven-Area Brokerages Add Agents
By James Sanna | August 23, 2023 | Reprints | Unlock LinkNorth Haven’s Pearce Real Estate and Milford’s Houlihan Lawrence Wareck D’Ostilio Real Estate recently announced the arrival of new residential real estate agents to their respective ranks.
1 in 10 Houses for Sale in Major CT Markets Are New
By James Sanna | August 21, 2023 | Reprints | Unlock LinkWith most homeowners who might have sold in other years sitting tight, the share of newly-built homes in many Connecticut housing markets has jumped dramatically in a single year.
Mortgage Rates Hit 20-Year High
By Matt Ott and Alex Veiga | The Associated Press | August 18, 2023 | Reprints | Unlock LinkThe average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
Remodeling Spending Set to Shrink, Data Suggests
By The Associated Press | August 15, 2023 | Reprints | Unlock LinkTwo indicators suggest Americans’ spending on remodeling is headed downwards despite hope that homeowners willingness to sit tight and not list their homes meant that a wave of home renovations are coming.
State Awards $23M to Eight Communities to Support Livability and Equity
August 11, 2023 | Reprints | Unlock LinkThe Connecticut Communities Challenge Grant program recently awarded its third round of grants to eight cities and towns to fund a range of revitalization projects intended to support job growth.
Perez Joins Pearce Real Estate’s Edgehill Team
August 11, 2023 | Reprints | Unlock LinkMiguel Perez has joined Pearce Real Estate’s Edgehill Team in its New Haven office.
Caracausa Joins William Pitt Sotheby’s Mystic Brokerage
August 9, 2023 | Reprints | Unlock LinkA well-known broker in the Mystic and Stonington area has joined her firm to a major brand throughout the Shoreline.
Severe Storms Lead to Unprecedented $34B in US Insured Losses So Far
By Michelle Chapman | The Associated Press | August 9, 2023 | Reprints | Unlock LinkWaves of severe thunderstorms in the U.S. during the first half of this year created an unprecedented level of financial damage in such a short time, according to Swiss Re Group, as climate change contributes to the frequency and severity of violent meteorological events.
William Pitt Sotheby’s Picks New Southport Manager
By James Sanna | August 4, 2023 | Reprints | Unlock LinkWilliam Pitt Sotheby’s International Realty announced that Patty Reis will assume the role of brokerage manager for the firm’s brokerage in Southport.
Mystery LLC Makes Priciest Home Buy in CT History
By James Sanna | August 3, 2023 | Reprints | Unlock LinkConnecticut’s most expensive residential real estate sale in history closed yesterday, but it’s unclear who the buyer represents.
Longer Homeowner Tenure Means Agent Roles Will Change, NAR Says
By James Sanna | August 3, 2023 | Reprints | Unlock LinkWith Baby Boomers outbidding Millennials and Generation X in many home sales, economists at the National Association of Realtors say real estate agents should start thinking differently about what their clients need from them.
CT House, Condo Sales Down by a Quarter in June
By James Sanna | August 1, 2023 | Reprints | Unlock LinkThe numbers of single-family sales and condominium sales across Connecticut were down by nearly 25 percent in June on a year-over-year basis, according to new data.
Study Pinpoints Magic Mortgage Rate to Spur Sales
By James Sanna | July 31, 2023 | Reprints | Unlock LinkA new survey from economists at listings portal Zillow adds more data behind the idea that 5 percent is the magic average mortgage interest rate for unlocking the housing market.
Mortgage Rates Surged to Nearly 7 Percent This Week
By Alex Veiga | The Associated Press | July 13, 2023 | Reprints | Unlock LinkNonetheless, mortgage applications actually increased slightly from the prior week, driven by a rise in FHA and VA purchase applications.
Brokers, Agents Urged to Act After Commission Lawsuit Settlement
By James Sanna | July 12, 2023 | Reprints | Unlock LinkA major national real estate consultancy is urging brokers and listing agents to act quickly to update their policies and marketing materials following a settlement in a class-action lawsuit over buyer-agent commissions.
