This could be a great sign! Red Deer home sales up considerably, two months in a row... 8% in September, 15% in October. This is good news!! Prior to September homes sales averaged -12% for 2015.
Last month home sale were up 8% over the same time last year. This month single family home sales in October 2016 are 15% higher than October 2015!
When home sales jump any given month it might just be a deviation or irregularity by chance. But when sale go high two months in a row it could be the start of something...
Mortgage rules changed a bit Oct 17 so buyers may have been getting their foot in the door prior to the rules making it more difficult to buy. The advanced notice may be what caused sales to jump in September and the deadline might have been the deciding factor in October.
The only way to know for sure is to wait and see what happens over the next few months. Stay tuned, on December 1st I'll post November home sales numbers to see what they say.
HomeScope.ca is hosted by Red Deer and Central Alberta Realtor® Blake King. Monitoring sales statistics, inventory levels and pricing he keeps a close eye the market so he can successfully guide his clients when buying or selling.