Research group: Connecticut real estate in slump, with home sales, prices continuing decline

Economic Indicators Associated Press

A research group says Connecticut real estate is in a slump, with home sales and prices continuing to fall.

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The Warren Group, publisher of The Commercial Record, said Tuesday that 2,735 single-family homes sold in August, down 6 percent from August 2013. From January through August, sales fell nearly 2 percent.

Single-family home sales and prices fell by 2 percent to 3 percent in the eight months of the year. In contrast, gains last year were between 6 percent and 8 percent.

The median price of single-family homes fell 5.3 percent, the sixth consecutive month prices declined. The median price fell to $269,900 in August compared with $285,000 in August 2013.

Timothy M. Warren Jr., chief executive of The Warren Group, says Connecticut's real estate recovery is in a slump.