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» down 2.1 percent from June but up 11.5 percent from July 2012. The annual increase marks 18 consecutive months of yearly gains, and 49 out of the 52 metros saw improvements over the last year.  While inventory was down compared to 2012 and the prior month, the decreases were more conservative, which means home price gains should slow, according to RE/MAX.   July inventory was 1.3 percent below the level in June and 20.7 percent lower compared to a year earlier. Inventory expanded month-overmonth, however, in 18 of the metros tracked.  At July's sales pace, it would take four months to clear the inventory available for sale, RE/MAX said, but in San Francisco, Denver, and Los Angeles, supply was under two months.  Sales in July were positive all around, with closed transactions climbing 17 percent from last year and inching up 1.5 percent from the prior month. The annual increase represents the 25th straight month sales headed higher.  Overall, 48 of the 52 metro areas tracked saw sales gains compared to last year. Thirty-nine of those metros saw double-digit increases, including Albuquerque (+43.8 percent); Raleigh-Durham, North Carolina (+38.7 percent); and Chicago (+38.3 percent). Connecticut rank: 6 90+ Day Delinquency Rate Foreclosure Rate July 2013 2.8% Unemployment Rate 4.7% 8.1% year ago 2.7% 5.6% 8.6% year-over-year change 1.2% -16.5% -5.8% Top County Windham CounTy 90+ Day Delinquency Rate July 2013 3.8% Foreclosure Rate 7.2% year ago 4.3% 8.3% year-over-year change -12.3% -13.6% Top Core-Based Statistical area WillimanTiC, CT 90+ Day Delinquency Rate Foreclosure Rate July 2013 3.8% 7.2% year ago 4.3% 8.3% year-over-year change -12.3% -13.6% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the July 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary July 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Connecticut Towns Partner with CSC to Offer E-Recording Two towns in Connecticut teamed up with Corporation Service Company (CSC) to transition to electronic recording for real estate and land use records.  The towns of Manchester and Farmington now accept e-Recording, which allows recording offices to reduce costs, eliminate errors, and receive payments promptly.  "In the next year alone, we expect to improve turnaround times and reduce processing costs as a result of e-Recording," said Paula Ray, town clerk for Farmington.  "[O]ur decision to move forward with e-Recording shows our commitment for utilizing technology in the best interests of our citizens and customers," added Joe Camposeo, town clerk for Manchester. "I am delighted to see this opportunity occur and look forward to the growth of e-Recording in Connecticut." Connecticut Home Sales, Prices Increase in Q2 The second quarter saw modest gains in home sales in Connecticut, according to the Warren Group. Second-quarter sales of single-family homes in the state totaled 6,898, a nearly 1 percent increase from Q2 2012. In June alone, home sales were up 0.4 percent (the second straight month of increases) to a total of 2,602. According to the Warren Group, it was the best month for Connecticut home sales since last August, which saw 2,639 transactions. Year-to-date through June, home sales statewide were 10,947, down about 1 percent from the same period last year. "The housing market in Connecticut continues to show slow growth," said Warren Group CEO Timothy M. Warren Jr. "As long as mortgage rates and home prices don't spike too high, we'll see a very steady recovery year for the market in 2013." Year-over-year, home prices were up 5.6 percent in June to a statewide median of $283,000—the highest median price for any month since August 2008. The year-to-date median sale price was $255,000, up more than VISIT US ONLINE @ DSNEWS.COM 8.5 percent from the first six months of last year. Compared to the second quarter of 2012, Q2 2013 prices rose more than 8 percent to $269,000. "Buyers have become more active in the spring selling season, which is creating modest upward pressure on prices," Warren said. "While not a problem at this juncture, I hope for more modest increases in the future. Unlike other parts of the country, Connecticut has not seen double-digit increases in median prices. This is healthy. Keeping housing affordable while prices rise gradually will avoid the kind of housing bubble we saw seven or eight years ago." On the condo side, sales increased 2 percent year-over-year in June, with secondquarter sales rising 2.5 percent compared to the same three months in 2012. Year-to-date, condo sales increased almost 1 percent compared to last year. The median sale price of condos also rose in June. According to the Warren Group, the median condo price was $176,000, up more than 7.6 percent year-over-year. The secondquarter median price was $175,000 (up more than 8 percent), while the year-to-date price was $168,000 (up more than 5 percent). Delaware rank: 13 90+ Day Delinquency Rate Foreclosure Rate July 2013 3.4% Unemployment Rate 3.1% 7.4% year ago 4.0% 3.1% 7.3% year-over-year change -14.1% -0.4% 1.4% Top County KenT CounTy 90+ Day Delinquency Rate Foreclosure Rate July 2013 4.8% 4.0% year ago 5.4% 3.9% year-over-year change -10.5% 3.2% Top Core-Based Statistical Area Dover, De 90+ Day Delinquency Rate Foreclosure Rate July 2013 4.8% 4.0% year ago 5.4% 3.9% year-over-year change -10.5% 3.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the July 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary July 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. 75

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