Home sales were down in the month of July, according to the latest numbers from the Huron Perth Association of REALTORS.
There were 162 units sold last month, a sharp decrease of 27% from July 2021.
Home sales were 25.3% below the five-year average and 23.4% below the 10-year average for the month of July.
Julie Heitbohmer, President of the association, says July was their lowest activity in over a decade as eroding buyer sentiment and affordability have continued to have an impact on the market.
The average price of homes sold in July 2022 was $620,242, an increase of 7.6% from July 2021.