Torrington, CT

There are many factors influencing real estate trends in the Torrington, CT metropolitan statistical area (MSA). The economy is one of the most important drivers of the housing market, and the current state of the economy is impacting both home prices and demand.

The unemployment rate in Torrington was 4.8% as of December 2017, which is down from 5.4% in 2016 (Bureau of Labor Statistics). This decrease in unemployment is good news for the housing market, as it indicates that more people have the financial stability to buy a home. Additionally, wages have been rising steadily in recent years, which gives potential buyers more purchasing power.

The inventory of homes for sale in Torrington has been tight in recent years, but there are signs that this may be changing. The number of new listings coming on the market has increased year-over-year for each of the past three months (January-March 2018), according to data from Realtor.com. This could be due to a combination of factors, including sellers feeling more confident about their ability to find a replacement home and an increase in homeowners who are looking to take advantage of rising prices by selling now.

Overall, it appears that the real estate market in Torrington is healthy and poised for continued growth in 2018. Low unemployment and rising wages should continue to support strong demand for housing, while an increase in new listings will help to ease some of the pressure on prices.