RECORD LOW IN HOME SALES DURING MARCH
HOME PRICES HAVE BEEN GRADUALLY INCREASING SINCE DECEMBER
“While home sales in Waterloo Region hit a record low for March in over two decades, we’re also witnessing a positive trend,” says Christal Moura, president of WRAR. Over the past three months, prices and activity have started to pick up, and I expect this momentum will continue into the spring.”
“Home prices have been gradually increasing since December, which is a typical trend,” explains Moura. “The rate and extent of further increases will depend on the willingness and patience of potential home buyers who have been waiting for lower interest rates before making their purchase. With the Bank of Canada not anticipated to make any rate changes before its June meeting, some potential home buyers may feel stuck in limbo.”