August 2024 MLS® Market Insights | GVR

Under Market Updates


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Written on September 10th, 2024

From a seasonal perspective, August is typically a slower month for sales than June or July. In this respect, this August has been no different. With that said, sales remain in a holding pattern, trending roughly 20 per cent below their 10-year seasonal average, which suggests buyers are still feeling the pinch of higher borrowing costs, despite two recent quarter percentage point reductions to the policy rate this summer.

 

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