Home sales still going strong in Kitchener-Waterloo
Published Monday, November 5, 2018 3:30PM EST
Last Updated Monday, November 5, 2018 7:56PM EST
Home sales in Kitchener-Waterloo are showing no signs of slowing down.
The Kitchener-Waterloo Association of Realtors (KWAR) says 514 homes were sold through MLS in October.
That’s an increase of 7.8% over the same time last year.
However the total number of home sales has decreased 12.9%, from 5,070 to 5,822.
Tony Schmidt, the KWAR president, says they’re seeing a stronger than average October.
“Gradually increasing interest rates could be nudging both buyers and sellers from the sidelines.”
Sales of detached homes were up 4.6%.
Condo sales showed the biggest increase at 19.6%.
Semi-detached residences and freehold townhouses, meanwhile, showed the biggest drop at 18.2% and 23.7% respectively.