In 2021, Ontario was the biggest buyer of real estate in this province.
After two banner years, real estate agents are feeling a bit of a slow down in the market. It’s not because people are not buying but it seems here, people are not selling.
Carol Anstey is the Broker-owner of Remax out of Deer Lake, Corner Brook, Stephenville and Happy Valley Goose Bay. She says when COVID hit, people spent a lot of time in their homes and they decided whether they loved their home or wanted to sell. Anstey says the real estate market is changing and now they need more homes to list. She says agents will also keep listings open longer to get more offers and the end result is properties are selling above asking price.
Meanwhile, she says rising interest rates are slowing the market down but in this province we have mitigating factors. Anstey says with potential projects like in Stephenville, consumer confidence is growing. She says another thing insulating us is the trend for people to move out of big cities. She says in 2021, Ontario was the biggest buyer in this province.
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