WESTPORT, Conn. (WTNH)–“The ship isn’t sinking,” said Mike Feldman, president of the Connecticut association of realtors.
It may seem like perpetual “for sale” signs are staples on front lawns across the Nutmeg state, but Feldman says despite a bad July, housing numbers across the state have been positive.
“This is the first month in 12 months that we’ve had a downturn,” he said.
The number of single family homes sold in the last year is down 8.2 percent. The number of condos and townhouses sold in the last year is down 18.1 percent.
“It’s tough not to look and those numbers and say, these are bad,” said WTNH anchor Scott McDonnell. “Yeah, it’s bad for one month,” said Feldman.
Overall numbers tracked by the Connecticut association of realtors show positive results from last August to July of 2016.
“Sales numbers up 6, 11, 17, 20, 20, 12,” Feldman said.
Interest rates are at impressive lows.
“Right now if you are a buyer you are on the fence not on the fence, you are pretty much looking at the rates we’ve seen since I’ve been in the business for 36 years,” said Feldman.
It’s an opportunity he says his clients are looking to take advantage of.
“My buyers when the call me up they excited. They are renting paying at 2thousand 25-hundred. That’s just 30k a year going to a landlord. Now they turn that into a mortgage, they own something, they control their own destiny,” said Feldman