Some Interesting Info Behind TREB's August Market Watch
Friday Sep 07th, 2018Share
Treb released their August market watch yesterday. It may take some people by surprise that prices had risen 4.7% showing a healthy steady increase to the real estate market. The number of transactions increased 8.5% over the same month last year. An indicator that buyers confidence in the market is returning, slowly and surely.
You can read the Report Here, but the one thing I found interesting is this graph showing the indicators to the market cooling and when they were announced in 2017. We all know what happened. Premier Wynne announced a Fair Housing Plan Mid 2017. It saw for a very slow summer and fall after an out of control spring. You saw a dip in transactions as buyers waited to see if the world would come to an end, which we all know it didnt. Then towards the latter part of the year, confidence was increasing slowly when the changes in mortgage rules were announced and came into effect Jan 1st and saw a sharp dip in the number of transactions for the first quarter.
How will the rest of the year be? Who knows , but never a dull moment in real estate.