The house prices in Kitchener Waterloo continued to rise last month, while the number of sales decreased. The KW Association of Realtors says the number of home sold compared to October last year was down by 16.6% but the average sale price increased by 11.4%. The associations president believes this is because Kitchener Waterloo’s economy is growing, tech companies are expanding and lots of jobs are available.
The number of houses sold is up slightly from this time last year, and the KWAR believes it will continue to go that way for the rest of the year, especially with the new mortgage rules being introduced in January 2018 that will likely lead to people jumping into the market now while the changes have not been implemented.
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If you want to find out more about the new rule changes contact your Mortgage Broker at The Mortgage Centre KW today. 519-743-4365