CT home sales rise again in August

Connecticut home sales rose in August for the second consecutive month, according to data publisher The Warren Group.

Sales of single-family dwellings statewide rose 6.8 percent in August to 2,644 from 2,476 a year earlier, said Warren CEO Timothy Warren Jr.

Connecticut's sales gains coincide with a fresh report from the National Association of Realtors that its U.S. index of pending home sales jumped to a two-year high in August.

"The gains in home sales for two consecutive months is a good boost for Connecticut's housing market, especially since sales have been slumping since 2005," Warren said. "However, unemployment and mortgage delinquencies remain a concern, and prices continue to erode from last year's levels, evidence that the housing recovery will be slow."

Windham, Litchfield, New Haven and New London counties had the biggest gains for the month.

The 6.8 percent increase in statewide sales in August follows a 3 percent bump-up in sales transactions in July. Home sales from January through August totaled 15,086, a 12.5 percent drop from 17,234 last year.

There has been no uptick in Connecticut's median home prices, however. The median price for homes sold in August plummeted 13.6 percent to $250,650 from $290,000 a year earlier. The year-to-date median home price is off 11.6 percent, falling to $245,000 from $277,000.

Unlike single-family home sales, Connecticut condominium sales slumped in August. Condo sales fell 5.4 percent to 757 from 800 in August 2008.

The median price for condos sold in August dipped 5.5 percent to $180,000 from $190,500 in August 2008. The year-to-date median condo price is off 12 percent, falling to $176,000 from $200,000.