Jul 06, 2022
By Bob Komsic
The board says about 6,474 homes changed hands last month, down from 11,053 during the prior June.
It says June sales were also down compared with May.
Realtors and economists say the sales slowdown is being triggered by rising interest and mortgage rates as well as inflation, which recently hit 7.7 per cent, the highest it’s been in almost 40 years.
The board says the average home price in the region stretched to just over one-million, one-hundred and 46-thousand dollars last month, a roughly five per cent increase from June 2021.
New listings rose by one per cent last month, but dropped 12 per cent from May.
(The Canadian Press)