According to the Kitchener Waterloo Real Estate Board, home sales posted their strongest month in over half a year in March. Specifically, a total of 497 properties were sold, a 34.7% increase over the 369 properties sold in February. Even more encouraging is that this is the third consecutive month of growth in home sales figures. Mortgage rates also remain at all time lows with 5 year rates of 3.85% or less in Kitchener Waterloo.
The local market continues to prove itself as resilient to the global economic down turn as housing prices remain constant and purchasing continues to improve. Indeed, all Realtors that I have spoken to attest to the fact that housing prices remain strong, and that there are multiple offers on most homes sold.
First time home buyers continue to drive increses in home sales, while there continues to be many individuals who are choosing this low mortgage rate environment to upgrade.
Call or email me, Brent Richardson, any time for more local information, housing trends and mortgage advice.
519 568 3377 - brent@brentrichardson.ca
