Home seller supply grows as demand declines
Last month’s sales were 28.7 per cent below the 10-year June sales average.
“Buyers are less active today. This is allowing the supply of homes for sale to accumulate to levels we haven’t seen in the last few years,” Phil Moore, REBGV president said.
“Rising interest rates, high prices and more restrictive mortgage requirements are among the factors dampening home buyer activity today.”
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