According to the MLS, Hamilton-Burlington saw a decrease of 12 % in sales growth over October when compared to October 2009. This said, and on a mortgage positive note, housing sales volume actually did increase by 3.6% compared to the same period last year (so only the growth of the sales has decreased, but Hamilton is still experiencing growth none the less). This continued strength in the area is owed to in part for continued low mortgage rates and reasonable housing affordability in the area compared to Toronto. The Hamilton Burlington Real Estate Board highlighted that there is a currently solid property inventory and that the average price of freehold residential properties sold in the month of October witnessed an increase of 2 percentage points compared to October last year. More specifically, the condominium market recorded an increase of 9.7 % in value over last year and that the total number of homes put up for sale in Hamilton and the area saw an upward move of 19.8 percent. The continuation of low mortgage rates in Hamilton helped first time buyers get into homes, and also assisted in the affordability for those who upgraded their home.
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