2012 Home sales up nationally and locally in CT

Real-estate listings and data company, Trulia, says that home-listing prices were up 5.1% nationally in December on a year-over-year basis, according to data released Thursday. Stefanos Chen of the Wall Street Journal wrote that out of the 100 major metro markets covered by the report, 82 of them saw year-over-year gains. At the end of 2011, asking prices had fallen 4.3%, and only 12 markets had posted positive price changes.

“Prices are going into 2013 with strong tailwinds,” said Jed Kolko, chief economist for Trulia. He cites a general strengthening of the job market, which in turn means more families able to cover a sizeable down payment. An increase in household formation, which is also the product of improving job prospects, and home construction could further bolster demand.

James Mosher of The Bulletin in Norwich reported Wednesday that Home sales in New London and Windham counties rose 16 percent last year from a year prior, according to the Eastern Connecticut Association of Realtors. Total combined units sales were 3,837 in 2012 compared with 3,308 in 2011, the Franklin-based association said.

Read more: Eastern CT housing sales up 16% in 2012 – Norwich, CT – The Bulletin http://www.norwichbulletin.com/news/x1058229048/Eastern-CT-housing-sales-up-16-in-2012#ixzz2HbiOyM6k

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