Business

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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Is Your Home Energy Efficient?

December 13, 2008

We were getting our annual furnace check-up from Yankee Gas a couple of days ago and after telling us our furnace was good to go, the service tech said something in passing about getting a home energy audit. I had heard that these audits could be done, but I was under the impression that they [...]

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Wallingford Market Update November 2008

December 9, 2008

The Wallingford housing market took a downward turn in November, with the fewest number of homes selling in the past 6 months. They also took an average 32% longer to sell at 75 days, the longest since June. It seems that most buyers were leery of the economic situation and were waiting to see what [...]

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Citigroup, Inc. Imposes Mortgage Moratorium

November 11, 2008

Citigroup, Inc, along with mortgage companies Fannie Mae (FNMA) and Freddie Mac (FHLMC), have announced plans to help more homeowners keep their homes, cutting interest or principal payments for some while extending loan terms for others. This mirrors similar moves made by other major banks, including JPMorgan Chase and Bank of America. Answering a call [...]

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