May Monthly Real Estate Statistics

It seems these days we are always waiting. Not sure it is because things take longer or because we expect things to happen that much quicker.

Guelph stats for real estate are a little slow to be posted this month. I found an alternate source that says sales are down a little over 16%. Stats for KW and Cambridge are looking a little more promising. With increases of 9.9% and 7.7% respectively it shows the first year over year increase for Waterloo Region since September 2008. This helps the YTD numbers slightly but in total MLS stats show a decrease of almost 15%.

All things have been pointing to the stop to the free fall. Low interest rates and the home buyers' plan and home renovation tax credits. Low interest rates have started to move back up. Does this put an end to people looking to buy, a halt on the pick up of the market? Anyone that was pre-approved has some time to make a purchase but anyone that does not already have the locked in rates may think twice. I would watch for a stall in the July-August time frame if nothing else changes or if the rates continue to raise.

Not to sound bleak. Just looking at what I see. It could always sound worse...


M