In this episode, we dive into the latest trends and news shaping the Connecticut real estate market:Connecticut Real Estate Market Update (October 2023 - October 2024):Home Value Growth: Single-family homes saw a 9.2% increase in value.Inventory Decline: Homes for sale dropped 2.1%, leading to tighter market conditions.Sales Trends: Pending home sales fell by 2.5%, while closed sales decreased by 4.5%.Speed of Sale: Median days on market dropped to 11 days, down 26.7% from last year.Market Supply: With just 2.2 months of inventory, sellers retain leverage in most transactions.Competitive Pricing: Homes are selling at 103% of their asking price, up 0.4%.Buyer Interest: The average number of showings per contract is 18.6, highlighting competitive demand.General Real Estate News:Mortgage Rates:30-year fixed: 7.04%15-year fixed: 6.41%FHA & VA loans: 6.45%Labor Market Insights (September 2024):Unemployment fell to 3.2%, a 23-year low.Private-sector jobs rose 0.6% annually, with average hourly earnings up 6.1% to $38.21.Builder Confidence: Builder sentiment climbed for a third consecutive month, supported by regulatory optimism following election results. Challenges like labor shortages and material costs remain significant.Shifting Buyer Power: Rising mortgage rates and seasonal trends have eased competition, signaling a potential shift toward a more buyer-friendly market.Key National Trends:Housing Preferences: Traditional agents remain the preferred choice for sellers, with 67% citing better sale prices and ease of use.Inventory Recovery: The U.S. housing market inventory gap continues to narrow, with active listings improving but still 21% below pre-pandemic levels.Affordability Struggles: Nearly 74% of Americans earning

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