The Huron Perth Association of Realtors says home sales in the region continue to decline.
The number of homes sold last month totaled just 144, down 35% from October of the previous year. Home sales are well below the rate sold in the first 10 months of 2021, despite the average price being relatively the same as it was at this point last year.
“Sales activity is still running well below typical levels for this time of year and will likely continue to do so into next year as the full effects of higher interest rates vis-à-vis higher mortgage rates work their way through the housing market, and buyers and sellers continue to adjust to a new pricing environment,” said Julie Heitbohmer, President of the association in a release.
The overall MLS Home Price Index composite benchmark price was $544,700 in October 2022, down slightly from 0.1% compared to October 2021.
To see the full monthly report, visit creastats.crea.ca/board/huro