In many parts of the country, real estate has fully recovered from the Great Recession, has increased in price, and is levelling off. Inventory is a problem, because demand in many areas has been greater than supply.
Not so for Connecticut. Our poor business climate and high taxes has caused us to underperform everywhere else. That means that we have yet to see any price increases, and our inventory remains higher than in other places. And what does that mean? It means that buying here makes more sense than it does in almost anyplace else in the country, because we share the same low interest rates, without the appreciation that would make housing prices higher than they were a few years ago. We are still recovering from the downturn, and our jobs did not return in the same categories nor at the same rate as in other states. That puts us in a different phase of the housing cycle, and makes us expect that this year will be strong.
Certainly the weather is helping! It's over 60 degrees today, and it already feels like spring. So what does spring mean to us? It's time to buy!