Windsor area home sales defy national trend

An article from the windsor star



The region saw the strongest improvement in year-over-year sales in April of 26 major markets tracked by The Canadian  Real Estate Association.

While home sales across the country dropped 3.1 per cent compared to April 2012 to 47,997, in Windsor-Essex they rose 20.6 per cent to 522, according to statistics released by the association Wednesday. The next best performer was bustling Calgary, where sales increased 10.4 per cent to 3,003. Toronto saw a 5.4 per cent drop to 9,811 and in London and St. Thomas sales fell 3.7 per cent to 876.

The number of sales in Windsor-Essex was higher in April than in 10 of the other markets.

The dollar volume of local sales went up 20.2 per cent, compared to a 1.8 per cent drop nationally. They fell 3.6 per cent in Toronto and 3.3 per cent in London and St. Thomas, while Calgary saw an increase of 14.3 per cent.

“There were only three cities in the country that have seen home sales manage to increase from year-ago levels for the first four months of the year, and they are Calgary, Edmonton and Windsor,” said Doug Porter, chief economist at BMO Capital Markets. “Needless to say, which one of these doesn’t belong? It’s understandable why Edmonton and Calgary are still doing well.

“I think it does show that the Windsor market is making a moderate comeback.”