What I am seeing in my eastern CT neighborhood mirrors what the Wall Street Journal reported this past week.  New home construction (spec houses) prices are being reduced, offering 0% down loans, and other specials. Every weekend is another "open house" at the same new homes.  I doubt the developers can afford to carry the unoccupied houses through the winter; some of these have already been on the market two+ months.

The existing homes are also reducing prices OR have just taken the "for sale sign" down.  The theory is that buyers and agents figure an unsold home on the market for more than 4-6 months has something wrong with it or can be purchased at a fire sale price.  Put the same home back on the market 6 months later and it morphs into a "new on the market."

I am wondering what will happen with the glut of expensive, new construction upscale condominiums that are supposed to come on CT's market this winter and spring.  Will they sell quickly at original predicted prices, reduced prices, or stay on the market longer?