Wilton Real Estate Statistics - June 2012

June saw a reversing of some three year old trends in our local market. Housing prices seem to have firmed up, inventory is slightly down, homes are selling closer to list price and prices per square foot are finally increasing. No one expects an immediate return to "the good old days" but even noted economist Jeremy Siegel said today on MSNBC that he felt the housing market would add 1% to 1.5% to our national GDP this coming year, an absolute reversal of what has happened these past few years.

With historically low mortgage rates and the affordability index showing that home ownership is now economically more efficient than renting, the coming months should see conditions improving.