Is There A Housing Bubble…
“When will the housing bubble break?” – a question we hear repeatedly; the answer is, there is no bubble only a significant shortage of inventory, a pent-up Buyer demand, and record low Mortgage rates; three factors which continue the upward pressure on housing prices.” Said Doug Rempel, President of the Niagara Association of REALTORS®.
Why is there such a large jump in sales compared to last year?
The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures and also tracks the actual number of sales within each month. With the announcement of the global pandemic in March 2020 came a virtual halt to real estate sales from March to May of 2020. The real estate market is seeing more sales as compared to last month even with record low inventory levels.
So, let’s take a look at how Niagara and your municipality performed compared to May of 2020!
If you ever see any sales or listings that you are curious about in the neighbourhood, just ASK and I’ll look it up!