Appointments this week have rallied, to just above a 9% increase over last week, after a sluggish start to the fall. The effect of 2 successive Bank of Canada interest rate pause announcements has reignited buyer confidence. New listings are still slightly surpassing solds, which has been a more recent phenomenon, however, the difference is significantly less than in previous weeks. So far this November we are seeing a decrease of nearly 16% in appointments over 2022, although this gap has also been narrowing over the past few weeks.
The appointment/sold index dropped to 10.5, a small change compared to previous weeks, indicating that buyers are continuing to gain confidence and make quicker decisions.
In Niagara, the $1-2M price range has been usurped as the top price range, but was replaced by the more affordable $450-500k range. Halton remains fairly consistent with high price ranges occupying the top spots. Hamilton saw some smaller changes where lower price ranges like $450-500k are gaining more popularity, although the $1-2M price range still occupies the top spot.
