London and Area Home Sales Follow National Trend
The London St. Thomas Association of Realtors (LSTAR) reported that August home sales were down 16.1% for our area compared to last August. In fact August makes it the 3rd consecutive month of lower sales volumes than a year ago. Despite the lower sales, prices have, on average, remained strong.
Home buyers have a larger selection to choose from without feeling rushed to make a decision, while sellers may have to wait longer to get a sale, at least prices are not falling. This is the making of a balanced market.
For a graphical analysis of average home prices year to date and sales volumes visit Market Watch
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