State home sales emerge from slumber in 2012
A seven-year skid for Connecticut home sales finally came to an end in 2012, a new statewide report confirmed today.
The Warren Group, Boston-based publisher of The Commercial Record, cited year-end statistics showing single-family home sales up nearly 15 percent statewide last year.
"An improved employment picture and consumer confidence boosted the housing market in 2012, and prices will slowly follow suit," Timothy M. Warren, chief executive of The Warren Group, said in a statement.
New London County home prices followed the statewide trend, rising more than 9 percent compared with the previous year, according to the publisher's figures. A previous report, by the Eastern Connecticut Association of Realtors, indicated that New London and Windham counties combined showed a 16.7 percent rise in sales last year.
Statewide, sales of single-family homes reached 24,276 last year, compared with 21,141 the year before. It was the best year for sales since 2009.
And December sales were up 18 percent from the year before. Sales showed increases in every month last year over the same period the year before, in contrast to 2011, when only two months showed increases.
"Prices have increased for three consecutive months, which is a promising sign for steady growth in 2013," Warren said.
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