Remax Escarpment Appointment Center - November 12-18, 2023
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.
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. 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.