With Another Rate Hike in June, Expect June To Be Month 4

The Windsor region experienced the 3rd month in a row of lower sales and higher new listings in May. The average house price is still at all time highs in most of the Windsor Essex region of Ontario, but price gains have certainly slowed.

The economic factors that caused these changes to the real estate market have not let up. If anything they are still gaining momentum. At the start of the month of June there was another interest rate hike impacting home buyers. Next month’s statistical releases will probably state June was month 4 of this trend.

The idea that there is an economic downturn coming has gained popular appeal. That means that now is the time to research and understand what may be coming.

This may be the early stages of a change to a buyers market. At the least, it has been a little easier to get your offer accepted lately as a buyer. That is something we can all be grateful for as participants in this industry.

Did you know Windsor is at the same latitude as Northern California and Southern Italy, with average temperatures above freezing for three quarters of the year? That means we get long, warm summers.