For the first time ever, the number of homes sold in KW in March is over 700, way over. Wow. That’s a hot market.
Realtors are saying this “surge” is due to the coming HST (yawn), consumer confidence, a strong “economic outlook, and talk of mortgage interests rates going up (and they did!). This may all be true, however when I’m out prospecting, talking with the man on the street, homeowners, home sellers… I’m also finding that people are moving because one spouse might have lost his job, or investors are selling investment properties they’ve held for a few years and taking out the profit. And people are buying because they really wanted a new house but builders stopped building last year so now they are buying a “pre-owned” house.
The economy in the region is very strong, driven by high-tech, our insurance companies and the universities. But doesn’t the region also have one of the highest unemployment rates in Ontario?
I’m just saying. There are other reasons, negative ones, that are driving the “surge” in resale homes.
I think its great that we sold over 700 homes. It’s great news for us. I like good news. I like balanced news better.
For the record, I started my real estate career after being laid off, back in 2004.