Housing Sales And Starts Remain Strong In July

Housing construction (Photo by Mike Vlasveld)

Even though the dog days of summer are upon us, realtors in Windsor-Essex are still very busy.

Sales remain high, tracking a slight increase last month over last July. The Windsor-Essex County Association of Realtors says they edged 0.96% upwards, while year to date sales jumped 14.68% over this time last year.

Listings are down slightly from last July when 895 people posted a for sale sign on their front lawn. The association says 870 homes were put up for sale last month.

The average price of a home is down from an all-time high in May of $235,011. It cost an average $233,948 to buy a house, up 13.46% from July 2015 and up 13.84% so far this year over the same period last year.

The Canada Housing and Mortgage Corporation says housing starts continued a strong showing last month with an increase of 38% in July over July 2015 with construction starting on a total of 134 single and multi-unit units. So far this year, housing starts are up 69%.

Across Ontario, housing starts were up 45% and just 3% across Canada.