The Kitchener Waterloo Housing Board reported a decrease in residential home sales in October, however went on to state that sales so far this year reached the 2nd highest level in the history of the area. Specifically, sales grwoth declined 22.4% in October compared to the same period last year. This said, Ted Scharf, President of the Kitchener Waterloo Real Estate Board mensions that sales data comparisons should be considered with care. He pointed out that the Kitchener Waterloo market last October was in the midst of a stronger rebound and that the Board still reported a 1.9 percent increase in actual sales over last year. Affordable mortgage payments and low mortgage rates in Kitchener and Waterloo contributes to the sustained growth in the area.
Home sales in the Waterloo Region last month totaled $134,352,425 and was comprised of 288 detached homes, 93 condominium units, 35 semis, and 26 townhouses. More specifically, pricing of homes sold in October increased by 14.3 percent when compared to this time last year. As demand continues to sustain, and mortgage rates remain steady, real estate in Kitchener and Waterloo will return to a steadier, less volatile market.
For low mortgage rates and and mortgage excellent servie, visit my site or contact me today! www.brentrichardson.ca
Comments