The two were allegedly spotted in the town of New Canaan after a day of house hunting, according to Us Weekly.
"They checked out a lot of home decor stores," a witness said.
A second insider added: "They love getting out of the city and appreciate a slower pace."
The couple was first rumoured to be dating in October of last year. They co-starred on the film Green Lantern.
Lively recently revealed that she wants kids in the future, saying that she'd love to have girls to share her wardrobe.