The Danbury News Times has a rare look at a Connecticut housing market. "The sales pace for homes has slowed in past few months from the fevered pace of 2003 and 2004. Realtors say price jumps have halted, causing homes to stay on the market longer. A year ago, 35 Danbury houses sold for less than $500,000 in the first 40 days of the year. The typical house was on the market for 55 days. The average sales price was $330,000."'

"So far this year, the price increased by 2 percent, and only 27 houses closed. They were on the market an average of 86 days."

"'We hosted a sales training meeting and compared November 2004 with November 2005. The market time increased and we had to adjust the way we were talking to the clients,' said Scott Cooney. Cooney said he counseled Realtors to ask their clients to be realistic. Just because their neighbor's house sold for a certain price a year ago doesn't mean theirs will today."

"Things aren't flying off the shelf,' Cooney said."

"The city reported a 4,800-unit backlog of approved housing units, both condominiums and houses, in 2004. Today, the backlog for units approved or in the permit process is only 2,700, said City Permit Coordinator Sean Hearty. That means 2,100 houses and condominiums hit the market in the last year. 'It appears that the neighborhood housing boom has slowed down,' Hearty said."

"Fairfield University Economist Ed Deak said residential real estate inventories are 40 to 60 percent higher now than they were a year or two ago. The higher inventory could level out home prices and slow price rises, Deak said."

"In New Fairfield, Realtor and Broker Christopher Gould said the town has a higher number of houses for sale today than it did over the last few years. 'A couple of years ago there was a shortage of inventory,' Gould said. Today there isn't."

"Gould said 2005 was as good a year for sales as 2004, but the test for 2006 will come over the next few months if the Federal Reserve continues to raise short-term interest rates. 'Houses are on the market a little longer, and we may see some price breaks,' Gould said."