Business

Meriden Market Update February 2009

March 8, 2009

The Meriden housing market seems to stuck in a funk over the past 3 months. For single family homes, total inventory has gone down by 21% while sales have remained relatively flat. We’re hearing that much of the inventory that has come off the market are either overpriced or need work to make them appealing [...]

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Wallingford Market Update February 2009

March 8, 2009

The Wallingford housing market continued to make some headway in February. There were even fewer listings to sell than last month, sales remained at an even pace over the last 3 months, but the homes that sold were on the market for almost twice as long as January. Expired listings were also down by 33%. [...]

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Mortgage Rate Update 3/6/09

March 7, 2009

Mortgage rates repriced lower on Tuesday. Meanwhile, treasuries continue to trend higher as the bond market begins to get nervous about mounting Federal deficits. The disparity between MBS and treasuries is creating volatility and uncertainty in mortgage rates. Mortgage rates are expected to encounter even more volatility going forward as markets continue to react to [...]

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Mortgage Rate Update 2/27/09

February 28, 2009

Mortgage rates have taken a turn for the worse this week, but not by much. Bond selling and a small rally in equities are the main culprits. Banks are looking for any reason to re-price higher, plus there is still considerable credit constriction in the market. It is hoped that implementation of President Obama’s mortgage [...]

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Mortgage Rate Update 2/20/09

February 20, 2009

Mortgage rates took a step towards the sub 5% range this week, reacting positively to President Obama’s mortgage rescue plan. More unease in equities and lots of government assistance coming into the mortgage market will help borrowers, lenders and servicers increase mortgage finance activities, and may sustain the downward trend of the current rates. A [...]

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Meriden Market Update January 2009

February 12, 2009

The Meriden housing market didn’t show much of a change in January. Inventory remained at December levels while homes sold decreased slightly. However, pending sales doubled which should give a boost to February numbers. Absorption rates increased by 25%, and average days on market also showed a slight increase. Condominium sales remain lethargic; only one [...]

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Wallingford Market Update January 2009

February 11, 2009

The Wallingford housing market showed some signs of life in January. There were fewer listings to sell, sales were up 67% from December and they sold almost 25% quicker, and expired listings were almost half of the previous month. The average sales price decreased, but this was largely due to the absence of the new [...]

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Mortgage Rate Update 1/30/09

January 31, 2009

Mortgage rates are still at record lows, but they are edging up. The most troubling issue is that bank mortgage rates are moving counter to market data, meaning that mortgage banks and lenders are not passing on gains in credit market rate declines. This creates artificial tightening in consumer (mortgage) credit, as well as unpredictability [...]

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Meriden Market Update Oct. – Dec. 2008

January 11, 2009

Due to popular request, we are starting to post the status of the Meriden housing market going forward, beginning with the last quarter of 2008. The Meriden housing market, much like its Wallingford neighbor, has been on a downward slide for several months. While sales of single family homes have been consistent over the last [...]

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Wallingford Market Update December 2008

January 10, 2009

The Wallingford housing market continued its downward slide in December. While there were fewer total listings, sales were down over 25% from November and they took 16% longer to sell, and expired listings were at their highest level in months. The average sales price increased again, but this was again due to sales of new [...]

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