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June 25, 2020

Realtor index shows Greater Hartford market nearly back on pace

Realtor.com A screenshot of realtor.com's latest housing market recovery weekly index for the Hartford area.
By Matt Pilon

The Hartford area’s housing market is on the mend, nearly returning to its pre-COVID-19 pace, according to a weekly recovery index produced by realtor.com.

The Hartford-West Hartford-East Hartford metropolitan area scored a 98.8 on the index for the week ended June 20, up 5.4 points from the week prior. A score of 100 would indicate that a housing market is back to its pre-pandemic pace, according to realtor.com, which compares a weighted average of website search traffic, median list prices, new listings, and median time on market to the January 2020 market trend as a baseline.

That was the 14th best score of the 50 markets assessed for the index. In all, 10 markets have recovered to their pre-pandemic pace, led by Seattle-Tacoma-Bellevue, Washington, which had an index score of 110.6 for the recent week.

Realtor.com previously said the U.S. housing market bottomed out in April.

Greater Hartford home prices were down 12% in May, but prices remained strong.

New listings are still down across the country, which hampers sales activity. The U.S. recovery index score stands at 92.
“It's unlikely we'll see the national pace of sales return to normal this year, but we should see home closings accelerate in the coming weeks -- and peak later than usual this summer," Javier Vivas, director of economic research for realtor.com, said in a statement. 

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