Real Estate Slowdown Reflected In Town Clerks’ Offices
In case you’ve lived under a rock for the past 18 months, it should come as no surprise to you that the real estate market in Connecticut isn’t doing so well.
Anecdotally, last week I was in a local town clerk’s office recording a deed and a mortgage. As I always do, I look through a stack of recent filings from prior days. I remarked to the town clerk that the piles of documents are a lot thinner than even a year ago.
The town clerk informed me that filings in her office were down 50% over last year. She said that number would be much higher but for the increase in the filing of liens, notices of foreclosure, and lis pendens.
Hopefully, the real estate market is nearing bottom.