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Connecticut Home Sales Dip

April 5, 2017 By Staff
Connecticut Home Sales Dip

Connecticut home sales in February dipped to their lowest point since 2012

A recent report published by The Warren Group said that Connecticut home sales in February dipped to their lowest point since 2012:

Single-family home sales in the Nutmeg state decreased by 4.1 percent in February, according to the latest report from The Warren Group, publisher of The Commercial Record. This is in stark contrast to last February’s 30.81 percent year-over-year increase.

As reported in the Hartford Courant, home sales were “sluggish,” falling 4.1 percent compared to a year earlier.

As the state struggles with high cost of living and lackluster housing market, economists like Nicholas Perna say Connecticut’s budget is in a “state of emergency.”

Connecticut ranks high among states in median household income but still hasn’t recovered all of the jobs it lost in The Great Recession. And it has a daunting series of obstacles hindering that growth:

    • An aging population that is not growing.
    • An outdated, congested transportation infrastructure.
    • And huge, unfunded public-sector liabilities that threaten to consume resources for the next two decades.

The bleak economic outlook facing Connecticuts taxpayers makes talks of tax increases a harder reality to fathom.