The latest report from the Waterloo Region Association of Realtors shows a decline in home sales in November.
According to the association, there were was a 43.7 per cent drop in the number of homes sold through the Multiple Listing System when compared to November of 2021.
The total was also 34.2 per cent below the previous five-year average for the month.
"Home sales continued to decrease in November, as they traditionally do at this time of year," said Megan Bell, President of WRAR, in a release. "At the same time, we know ever-increasing homeownership costs are contributing to the decline and putting downward pressure on sales prices which have plateaued since July."
November residential sales included 280 detached homes, 78 townhouses, 58 condominium units, and 37 semi-detached homes.
