Market slow to warm up
A total of 498 homes sold in February 2014, down 13.5% from the previous year. "The first couple of months of the year are traditionally slow months for real estate," says Jim Holody, the 2014 President of the London and St. Thomas Association of REALTORS®. "Factor in some of the coldest temperatures in recent memory and one winter storm system after another and you've got a market in deep freeze. Fortunately, the only thing wrong with our market is the weather and that's about to change. Buyers who want to get ahead of the game would do well to get out in front of the crowd. The Spring market is going to start to kick in this month and I think we're going to see some pent-up demand start to change the equation."