Where are home prices heading?
Many of you are wondering where is the market heading in 2023? If only we had a crystal ball! This article has some good information for you. Hoping for a steep drop in home prices next year? It's unlikely, Royal LePage says - National | Globalnews.ca Enjoy the rest of 2022 and as always contact us if you have any questions.
November 2022 Kootenay Market Stats
Here are the latest residential sales infographics for November 2022 for the Kootenay area. It's interesting to see how the market is reacting to the recent interest rate changes and home pricing adjustments. The number of units sold in the Kootenay region is down 42.5 % percent while the number of active listings has increased by 40.8%. Days to sell have also increased by 15% . The market is favourable for the buyer. If you are looking to buy make sure that you have connected with a mortgage broker to get a preapproval and a rate guarantee. With another rate hike this morning it is good to know what you are able to afford with all the recent rate changes. Reach out to us if you are looking to buy or list! www.nelsonproperty.com
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