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.