The market is up across our 5 towns! Good news in housing, for the first time in years we are seeing positive data on unit sales, up year over year in Westport, Weston, Wilton, Fairfield and Norwalk. Check out our Market Action Reports for the specifics.
Positive write ups in the media along with reports from closely watched indexes such the Case Schiller Home Price Index, showing a 3.0% increase, Pending Home Sales in the Northeast at 13.3% above a year ago, are signaling an improving market.
Increased construction starts, improving existing home sales, lower delinquency and foreclosure rates are all good data and support the activity we are experiencing on the street. Plus interest rates continue to be near all time lows. We continue to be low on inventory in most price categories which for a property in a good location that shows well, could end up with multiple offers.
With the aftermath of Storm Sandy still a part of many people's lives, our best goes out to those who suffered damages and who are still in the rebuilding mode and getting back on their feet. As a storm victim myself I understand your frustration and loss and wish you a positive outcome in a difficult time. Please do not hesitate to call on us if we can provide referrals to contractors or support with our experience.