So the news media is announcing -- as if it's news -- that home sales dropped dramatically in May. Well of course they did. Home sales were artificially propped up by the home-buyer tax credit that ended April 30. So buyers who would have bought in May or June got busy a few months earlier and got a contract signed. Sales will probably be down in June and July as well. What the national media doesn't report is what's happening in Connecticut, or in specific counties in Connecticut. From my vantage point working mostly in Hartford County, demand was still strong in May and June. The hottest towns are West Hartford and Farmington -- especially homes in the $300,000 to $500,000 range.

 

My prediction: The Wall Street Journal reports that large companies are hiring, especially in the tech industry. So I expect demand for condos geared to young professionals to jump. ... The market for high-end homes is still in the toilet.