Halton Hills Housing Update - Ep. 210

Today I have May's numbers and they aren't great. Our pricing is down both year-over-year and month-over-month. We saw sooooo many sales under $1,000,000 and that really dragged our average price down.
Looking at our weekly numbers, sales were definitely slow last week but there are quite a few homes in the 'sold conditional' status that could result in a big sales week next week if they all firm up. I think the biggest contributing factor to the slow down is the sheer volume of inventory right now. This is the highest inventory we have seen since November of last year when the market was virtually dead.
With all of that being said, it still feels like the market has life in it and Buyers are active. Hopefully the BoC drops interest rates tomorrow and that it puts some much needed fire back into the market to help with our inventory levels.
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