In this episode of the Triniyah Podcast, we bring you the latest insights into the Connecticut real estate market. From housing market statistics and interest rate updates to local news and national trends, we cover everything you need to stay informed about the real estate landscape.
Welcome to another installment of Connecticut Real Estate Market Weekly Insights. This week, we dive into critical data shaping the Connecticut real estate market, starting with year-over-year statistics. Learn about the 8.6% rise in single-family home values, a 1.5% increase in inventory, and what these shifts mean for buyers and sellers. We’ll discuss the dip in pending and closed sales, the median days on the market dropping by 28.6%, and why properties continue to sell at over 100% of their listing price on average.
We also analyze interest rates, which recently closed at 7.08% for 30-year fixed mortgages and 6.50% for 15-year fixed mortgages, among other loan products. Discover how these rates impact both buyers and sellers navigating today’s market.
Moving on to local news, we explore Governor Ned Lamont’s proposed state tax cuts and their implications for homeowners. We’ll also cover the legislative push for more affordable housing in Connecticut and examine proposed changes to the Healthy Homes Fund, including debates over its fairness and impact on communities.
On a national scale, we touch on inflation trends, their effect on the Federal Reserve's interest rate decisions, and the ripple effects on consumer borrowing. We’ll also discuss builder confidence levels amid regulatory and economic challenges.
Finally, we wrap up with expert insights into Connecticut’s office real estate sector, including its struggles and glimmers of hope for 2025. Join us for a detailed breakdown of these updates and how they shape opportunities for homebuyers, sellers, and investors alike.