Durham real estate takes a dip

The Durham Region housing market has seen a 32 per cent drop in the amount of real estate transactions compared to the same period in 2016. By Joel Wittnebel/The Oshawa Express It may be too soon to call it a trend, but the real-estate market in Durham Region has taken a move back toward a somewhat normal level as the region saw a 32 per cent drop in the number of residential transactions compared to the same time last year. Specifically, the Durham Region Association of Realtors (DRAR) reported 997 residential transactions in June. In the same token, the number of new listings in Durham also decreased month-to-month as listings dropped from a total of 3,217 in May to 2,639 in June. For Roger Bouma, DRAR president, the drop in numbers is slight shift from the hot market in recent years that has seen the real-estate and housing prices in Durham Region and across the GTA increase steadily. “It probably means we’re returning to somewhat of a balanced market, at least for the time,” Bouma says. “My guess is it’s a bit of an adjustment from the highs we were experiencing.” However, Bouma says the numbers should be looked at … Continue reading Durham real estate takes a dip