Realtors from across the state of Connecticut rallied at the State Capitol for one thing: a state they can sell to would-be home buyers.
The common thread among real estate agents is that even though Connecticut has an inventory of homes for sale, many of them are out reach for the average buyer, which they say has to do with a struggling state economy.
“Homes in Connecticut are just not affordable," said Michael Barbaro, President of CT Realtors. "They’re attainable through First Time Homebuyer and down payment assistance programs but you have to be able to afford to live in that home and you have to be able to maintain it, so low paying jobs in any economy are not a good thing so we need to again, build it out. We need to build our way out of this mess.”
Recent job gains at Sikorsky, Electric Boat, and Pratt and Whitney have been helpful, agents said, but they haven't been enough to make a dent in the inventory statewide.
They said even though those are jobs in areas where some homes are affordable, they need to see more statewide success.
"Connecticut should be a friendly state to do business in regardless of the name of your company or whether you work for the government or whatever you do for a living,” Barbaro added.
Even with that, many realtors are optimistic. They said homes in towns with good school systems continue to sell, and said they're optimistic about the future and Connecticut emerging from its economic malaise.
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Mike Feldman is a real estate agent from Stamford and said he thinks there is daylight for the market in Connecticut after a tough decade.
“We’re still fighting the overhang of some of the foreclosures and the homes that are underwater value-wise compared to what their mortgages are, but we’re seeming to work through those a little bit slower than the rest of the country, but we’re getting through it," Feldman said.
