Home sales in Huron Perth took a sharp dive year-over-year in May, despite steady prices, marking a notable shift in the real estate market.
That’s according to a recent report from Huron Perth Association of Realtors.
Sales dropped to 182 units, down 21.9 per cent from the previous year.
The average home price remained relatively stable at $616,596, a slight decrease of 5.8 per cent from the same time last year.
There were 782 active listings at the end of May, up more than 39 per cent over the same time period in 2023.
The cautious approach among buyers and sellers reflects anticipation of economic changes, such as potential interest rate adjustments by the Bank of Canada.
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