Milford New Haven Metro CT HPI Report ending 1Q2020

April 30, 2020 -- While requests for property showings have decreased in March, we have seen recovery in mid-April (according to ShowingTime).  Overall, we have less inventory ( 976 SFR comprising 1000-3200 sqft priced $200,000-$700,000) in all New Haven County  with anticipation of a May 2020 buying surge as 30-year interest rates remain around 3.5% for qualified borrowers with over 1800 closed transaction in the previous six months.

The FHFA House Price Index for my Milford New Haven Metro (Purchase Estimated Sales Price Data) Seasonally adjusted value went up 1.64 to 175.51 (a value comparable to 3Q2009) while the Non-Seasonal value corrected 1.23 to 174.39 (a value comparable to 3Q2010). This continues to support the history of the Carr value Shelf (PONSA 158-164) (SA156-163)

As we reflect on 4Q2019  we remember " comparing the All Transactions (AT) cohort to the “Purchase Only Not Seasonally Adjusted (PONSA)” Values we see Year To Date (YTD)  Growth  of 6.57 in my New Haven Milford CT Metro of 6.57 and a one quarter decline of 0.43.  Looking back to 3 Q 2017 we see a net NSA growth of 9.71.  The PONSA is a quarterly decrease in value compared t the 2.29 increase in the All Transactions (AT) dataset. It's important to understand the distinction between these two datasets as previously discussed in my market analysis and FHFA materials.

Connecticut and my Milford New Haven Metro remains underappreciated despite our proximity, climate and high quality of life.This unprecedented 2020 Spring market has created new financial and logical challenges for this market adding opportunities for qualified participants in Connecticut. 

Since 1996 I am here to help you discern value and quality of life when the time is right for you.  People move because it’s the right time more than anything else. People complete home purchases with higher interest rates in more challenging historical environments than today. Is there anything I can do to help you make a good decision?  I am here to help. Copyright©04.30.20 All Rights Reserved. Follow me on twitter @ctrealdavecarr