April 2013 Real Estate News - Local Real Estate Market Moving Toward Balanced Market

Although Real Estate sales activity has been quieter so far this spring than it has been for the past three years, RAHB - the REALTORS® Association of Hamilton-Burlington - reported  that the average sale price in March for all property types was 10.8% higher than the same month last year. RAHB also reported a 9.7% decrease in the number of listings compared to last year.

According to Canadian Real Estate Association (CREA) Chief Economist Gregory Klump, "the cooling off of the housing market resulted from tighter mortgage rules and guidelines coming into force in mid-July last year. Until we get well into the summer months, year-over-year comparisons to months in the first half of 2012 are predictably going to be down significantly but not necessarily be indicative of further deterioration."

View the Hamilton-Burlington and Oakville March market stats.

This Month In Real Estate (Canada) is a monthly Keller Williams video news series that offers an inside look at the national real estate market.