Real estate sales sag in Greater Victoria
Filed Under Main Content · Tagged: Banks, Consumer Confidence, Decreases, Economy, Greater Victoria, Homes Sold, Inventories, Inventory Levels, Mortgage Rates, Multiple Listing Service, Observers, Real Estate Board, Real Estate Sales, Rush, S Multiple Listing Service, Signs, Victoria Real Estate, Victoria Real Estate Board, Victoria Times Colonist
Times Colonist- Home sales cooled and inventory continued to rise last month as some real estate buyers in Greater Victoria chose to take the time to shop around.
A total of 625 homes sold in June through the Victoria Real Estate Board’s Multiple Listing Service. That was down from 695 sales in May and about a third less than the 946 sales in June a year ago.
Meanwhile, for-sale signs continued to sprout as inventory levels rose to 4,730 properties, up 25 per cent from the 3,794 available a year earlier.
Major banks last month inched some mortgage rates down, but the small decreases didn’t create a rush into the market as potential buyers mulled over increasing inventories for better deals. Observers also note waning consumer confidence in the overall economy may be a factor in the softening market…
