Monday, July 8, 2019

2nd Quarter 2019 vs 2018

On the bright side prices were up just over 5% for detached 2-storey home sales. Also the rental market is going crazy with many accommodations receiving multiple Offers to Lease, and the actual number of Leases has doubled.

The doom and gloom is the actual number of sales. For all types of properties, condo's, semi's, THs... there were approximately 400 sales compared to about a 1000 in 2018.  Detached 2-storey homes dropped to 181 sales from 522. That is significant.

Buyer's have more choice but still have to deal with tight lending rules and high prices which makes acquiring a property difficult.

It's difficult to forecast the remainder of the year so we will just have to wait and see.


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