![]() Their unaffordability has led to a cooling, Redfin’s data shows.īut in markets like New Haven and Bridgeport, where things didn’t get quite as hot as some of the markets that saw pandemic booms, there’s not as much room for cooling.ĭowntown New Haven, at the Green New Haven, Conn. Those west coast and southern cities are where the prices shot up the most. Former Notre Dame-Fairfield state champ named coach of ice hockey team.8 new Connecticut restaurants to try in August.Police: Navy member planned double-murder-suicide of wife and son in New London.Today Show co-host Craig Melvin to honor brother with Norwalk golf tournament.After massive bus fire, CT pulls electric fleet from service.Pilot tried to smuggle 2 tons of cocaine for CT drug ring before plane crashed, prosecutors say.Robert Miller: So, you think you saw a mountain lion in CT? I thought so too once.During the pandemic, states like Connecticut saw exoduses of untethered employees flocking to warmer climates. High home prices and mortgage rates along with a volatile stock market have pushed many out of the home buying market. That created a searing hot housing market that saw inventory drop to some of the lowest levels with available homes flying off the market for well above asking price. Supply is starting to pile up.”ĭuring the COVID-19 Pandemic, interest rates were low and the availability of remote work opened new housing opportunities. Then the number of people attending open houses dropped from 20 to two, and now some homes are sitting on the market for over a month and selling for under asking price. “In the early spring, every home was selling over its asking price with multiple bids. At the same time, fewer people can afford pricey homes because of the volatile stock market,” Redfin agent Joanna Rose said. “The housing market has changed drastically in the last month because higher rates make homes even more expensive than they used to be.
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