Let’s have a look at the December Real Estate numbers!
Last month of 2022! How did we do??
I will answer this by quoting the Niagara Association of Realtors Board of Directors president Amy Layton:
“As expected, NAR experienced fewer sales this past December compared to the previous year. This is in line with the difference in the interest rate.
We’ve seen a 4% increase in the prime rate between December 2021 and December 2022. After the last Bank of Canada interest rate increase on December 7th, 2022, and as we headed into the holiday season, it seems Niagara witnessed the same trend as other areas: a decrease in sales.
Seeing roughly the same amount of listings though is encouraging.
This means more choices for the buyers who are still out there.”
PS: Text/call me any time if you have questions! 905-321-5050.