The calendar may say it’s a new year, but it’s still the same slow housing market that the Huron Perth Association of REALTORS saw in 2022.
Home sales saw a sharp decline through the first month of the year, down over 19% from the previous January.
This despite the fact that the average price of homes sold last month dropped 22% from January 2022 rates.
In a release, president of the association Bob Heimpel says the market isn’t going to rebound overnight and make time some time to adjust to recent interest rate increases.