Home sellers in two Connecticut metros were among those enjoying the highest annual increases in gross profits in the United States this past year, and it’s partly because they’ve held onto their homes the longest.
A new analysis by Redfin economists has found that the share of listings that the median-earner could afford in Connecticut’s three major metros has fallen nearly in half or more over the last year.
A new Zillow analysis suggests American home prices would have to fall almost 25 percent to return to recent affordability norms – something the company’s researchers suggested is so unlikely that buyers “may need to reset their expectations.”
