March 10, 2008
Conn. home prices take largest tumble in 13 years
In January, the median price of single-family homes in Connecticut fell 5.3 percent, from $282,000 to $267,000, the largest percentage drop since April of 1995, according to The Warren Group.
The home sales outlook was equally dire, with sales plunging 28.6 percent from the same time last year. Over the past few months The Warren Group has reported that Connecticut has consistently defied the national downward turn in the housing market.
But Warren Group CEO Timothy Warren Jr. said 2008 has brought about a turn for the worse - one that is likely to worsen in coming months.
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