Jobs. Get those back and the housing market will take care of itself.
That’s what Phyllis Esposito-Doyen, a 25-year veteran real estate professional, said Wednesday after the U.S. Department of Commerce published a disheartening report on the fortunes in the real estate market.
The report said the median national sale price for a new home fell from $225,600 in December to $216,000 in January. The number of sales was virtually identical at 43,000. Compared to January 2007, sales were down by 23,000 in January.
Esposito-Doyen, a Trumbull ReMax agent, said the market here has gone through a readjustment and appears to be returning to sanity. She said it is active, but houses are sitting longer.
“It’s a bumpy market,” she said, but that should have been expected after the outrageous run-up in prices that occurred here.
As she takes people to look at homes in the area, she said the real problem is on the job front. Almost all the relocation work she’s doing is for people who work in New York but …
