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April 14, 2016

4 CT metro areas make worst depreciation list

4 Connecticut metro areas are predicted to have the worst property devaluations nationally through March 2017.
By Joe Cooper

Four Connecticut metropolitan markets are forecasted to be among the national top 13 of worst-performing real estate markets in terms of depreciating real estate values through March 2017.

The four markets are:

  • Torrington, 8th worst at -1.1 percent;
  • New Haven-Milford, 9th at -.7 percent;
  • Norwich-New London, 11th at -.7 percent; and,
  • Hartford-West Hartford-East Hartford, 13th at -.6 percent.

The Portland, Ore.-Vancouver, Wash. area is predicted to have the strongest growth in real estate values at 10.6 percent. No Northeast metro areas make the top 25 list.

The forecast by Veros Real Estate Solutions, which specializes in enterprise risk management, collateral valuation services and predictive analytics, reports residential market values will continue their overall upward trend during the next 12 months, with overall annual forecast appreciation decreasing slightly to +4.2 percent (from the prior quarter’s forecast of 4.4 percent) and shows 94 percent of markets forecast to appreciate.

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