Home sales have declined sharply since February of this year, due almost entirely to a rapid set of steep interest rate increases that have brought mortgage rates up from historical lows. There’s going to be a lot of adjustment on both sides of the market over the remainder of the year as all participants revise their expectations – buyers on what they can afford and sellers on price expectations. We’ve still got a few more rate hikes expected before year end, so we anticipate the market to continue rebalancing as supply outpaces demand for the time being.
Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/
Stats are correct as of Thursday August 11th. Based on July 2021 v July 2022