CT s booming housing market could soften with a rise in COVID-19 foreclosures
Alexander Soule
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A Godfrey Road home in Weston, Conn., listed for sale at the outset of the pandemic in 2020 and again heading into the spring of 2021, for just under $650,000. The listing could soon see price competition on nearby Ravenwood Drive, via the foreclosure auction of a home that carries a slightly lower assessed value, if the auction proceeds in March as scheduled.Alexander Soule /Hearst Connecticut Media /
As home buyers pick through Connecticut’s limited selection of properties heading into the spring market of 2021, the ugly underbelly of supply could come to bear on the market this year and next lenders seizing properties from borrowers who, due to evaporating income, health bills or other reasons, cannot keep up with payments on their mortgages.