Guelph Home Sales Slow Sharply In January 2018

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 153 units in January 2018. This was down 27.8% from the record breaking month of January in 2017.

“The slowdown in sales in January following an extremely strong end to 2017 lends further support the idea that some buyers pulled forward purchases into late 2017 to beat the introduction of tougher mortgage rules on January 1,” said Kristi Mercier, President of the Guelph and District Association of REALTORS®. “If that is indeed the case, then we would expect activity to start to balance out somewhere in between those highs and lows in the months ahead.”

The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI for Guelph and District rose 10.9% in January 2018 compared to the same month in 2017. While this is still in the double digits, it does mark a deceleration from the gains posted throughout 2017.

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