Monthly Market Stats - October 2018

By: Mike Mossuto

Monthly Market Stats - October 2018

Tags: Stats, Buying, Selling, Real Estate, Homes, Hamilton, Burlington, Toronto

 

Canadian Homes Sales Activity Eases in October

"This year's new mortgage stress test has lowered how much mortgage home buyers can qualify for across Canada, but its effect on sales has varied somewhat depending on location, housing type and price range," said CREA President Barb Sukkau. "All real estate is local. A professional realtor is your best source for information and guidance in negotiating a purchase or sale of a home during these changing times," added Sukkau.

"National sales activity lost momentum in October," said Gregory Klump, CREA's Chief Economist. "In part, this reflects waning activity among some urban centers in Ontario's Greater Golden Horseshoe region and the absence of an offsetting rise in sales in the Lower Mainland of British Columbia. Even so, the balance between sales and listings in these regions points to stable prices or modest gains. By contrast, the balance between sales and listings for housing markets in Alberta, Saskatchewan, and Newfoundland indicates a weak pricing environment for homeowners who are looking too sell."


If you have any questions, or concerns, about today's market, contact me today!

Mike Mossuto
Sales Representative
Keller Williams Complete Realty
mike@mikemossuto.com
905-929-3473


(All information taken from CREA National Statistics)