A new report from Redfin suggests another way higher mortgage interest rates are taking their toll on the housing market: more homebuyers bailing on purchases.
In each of Connecticut’s three biggest metro areas, home prices have risen so far not only is renting far cheaper than buying the median home, that home is out of reach of the majority of buyers.
Connecticut’s cities and towns authorized a mere 205 new housing units last month despite signs the intense demand for single-family houses will continue unabated this year.
The Connecticut House of Representatives passed legislation Wednesday that proponents said will prevent approximately 110,000 Connecticut residents who commute to Massachusetts and New York but worked from home in 2020 because of COVID-19 from being double-taxed.
Connecticut politicians and real estate agents spend much of last year hailing news of well-heeled New York City denizens decamping for Fairfield County as a result of the pandemic as a sign the state was headed for a renaissance.