A new report has less-than-optimistic news for Connecticut homeowners. The Warren Group of Banker & Tradesman—says single-family home sales in Connecticut fell 21.8-percent in September.

The firm describes the drop as “the largest monthly decrease since September 2006.” In addition, The Warren Group says third-quarter single-family home sales in Connecticut fell 6.1-percent when compared to the same period last year, while the third quarter median sales price rose 1.8-percent.
“After observing what is happening in the rest of New England, these September numbers out of Connecticut did not come as a shock,” said Timothy Warren Jr., chief executive officer of The Warren Group. “It seems we’re seeing the ramifications of July’s credit crisis, along with the tightening of the mortgage market. Foreclosures are playing a part in declining home prices, and the sharp decreases in home sales across New England seem to signal that consumers are either skittish about the market, or that they are having a more difficult time qualifying for mortgages.”