We are in what’s called a ‘Hot Week’, and it’s not just the weather. There have been three instances in the last 3 years where property sales at RE/MAX Escarpment and Niagara outpaced new listing inventory. This past week shows the highest spread with our sales to new listings ratio at 127.8%. These bursts usually happen in late winter early spring, not in the deep of summer, and is usually followed by another strong week. This could be a sign that buyers who were waiting on the sidelines for rates to drop further, are realizing we may be in a longer pause period on variable mortgage rates.
