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ยป remained low in October at 82, down from 95 days a year earlier and the lowest average for days-on-market since June 2010, RE/MAX reported. Metro areas with a significantly low supply of inventory include San Francisco (1.1 months), Los Angeles (1.5 months), Orlando (2.4 months), Denver (2.4 months), and Washington, D.C. (2.5 months). Connecticut rank: 8 90+ Day Delinquency Rate 2.91% STAT INSIGHT 2.88% Home price appreciation in Denver in Q3 2012 compared to a year earlier. Source: Federal Housing Finance Agency Unemployment Rate 5.08% 9.0% year ago 2.73% 5.15% 8.5% percent point change 6.4% RE/MAX Launches Site for Commercial Real Estate In November 2012, RE/MAX announced the launch of its RE/MAX Commercial website, the standalone site dedicated to datarich commercial real estate listings, investor information, and other resources. The Denver, Colorado-based real estate giant says the resource is necessary as its commercial brand keeps getting bigger. According to the company, RE/MAX Commercial has seen significant growth in the past few years, adding 49 new divisions in 2011 alone. In the last decade, average sales and lease volume has topped $8.1 billion each year, earning RE/MAX Commercial a spot in National Real Estate Investor's Top 25 list of commercial brokerage networks. "RE/MAX Commercial has become one of the most prominent brands in the business and this site shows our dedication to being the number one resource for commercial buyers, sellers, and investors," said Mike Reagan, RE/MAX's SVP of business alliances. "We've worked hard to bring together all the necessary tools and information to help both practitioners and investors stay ahead of today's fast-moving market." The site features nearly a quarter million commercial listings from around the world, as well as global commercial real estate news and information, including market insight reports, industry hot topics, and a professional directory. It also includes an innovative Commercial IDX Lead Generation system designed to provide interested buyers and sellers a direct link to experienced RE/MAX commercial practitioners in their area. Foreclosure Rate october 2012 -1.3% 5.9% Top County Windham CounTy 90+ Day Delinquency Rate Foreclosure Rate october 2012 4.31% 7.71% year ago 4.20% 7.32% percent point change 2.8% 5.3% Top Core-Based Statistical area WillimanTiC, CT 90+ Day Delinquency Rate october 2012 4.31% Foreclosure Rate 7.71% year ago 4.20% 7.32% percent point change 2.8% 5.3% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the October 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary October 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Home Prices Slide for Connecticut Signs were mixed in Connecticut in November 2012 as single-family home sales increased and home prices plunged. A report published by The Warren Group found that prices were the lowest level in that month since 2002. In September 2012, a total of 1,900 homes were sold, which is a 4.5 percent increase from the 1,817 homes sold in 2011. The third quarter showed a positive trend with home sales growing from 6,188 in 2011 to 7,266 with year-to-date sales up by 13.1 percent at 18,300 from the 16,180 a year ago. "Home sales have increased every month in 2012, a strong sign that the housing market is recovering. This suggests that consumers have regained some confidence in the economy, and are making home purchases with more enthusiasm," said Timothy M. Warren Jr., The Warren Group CEO, in a statement. "The drop in prices is concerning, but it's typical to see VISIT US ONLINE @ DSNEWS.COM sales volume increase before prices do in a recovery period." As sales increased, prices dropped. The median home price of single homes fell by 7.2 percent to $230,000, which is $18,000 less than in 2011 making it the lowest median price since September 2002. The third quarter showed declines in home prices by 1.6 percent, down $250,075 from $255,000 in third quarter 2011. The median price for homes sold from January through September 2012 was $240,000, down 4 percent from $250,000 in the prior year, according to the statement. Condo sales increased more than 7 percent to 503, up from 470 a year ago. Third-quarter sales increased 12.6 percent to 1,760 from 1,562 the same quarter last year. Year-to-date condo sales are up 7.2 percent, increasing from 4,648 from 4,334 this time in 2011. The median price for condos declined by 9.3 percent, dropping to $157,000 from $173,089 in September 2011. Hunt Leibert Receives USFN's 2012 Award of Excellence Hunt Leibert Jacobson, P.C. (Hunt Leibert) was honored in November as a recipient of USFN's 2012 Award of Excellence. Founded in 1988, USFN is the nation's oldest and most prestigious trade association of law firms and trustee companies that focus on creditors' rights. The Award of Excellence program was introduced in 1993 and recognizes firms who represent the highest realization of ideals held by the organization, according to USFN's website. Member firms considered for the award are evaluated based on professional activities, industry volunteerism, and community and charitable involvement by the firms. "This award is a testament to our commitment to the industry, and service to our clients," said firm partner Richard M. Leibert. "We are honored to be recognized by USFN and I thank my team for their ongoing dedication." Recipients are honored at USFN's Annual Member Education Retreat. Hartford, Connecticut-based, Hunt Leibert provides legal representation in finance, foreclosure, bankruptcy, and mortgage-related litigation. 133