With all the negative press surrounding the US housing market I thought it would be a good idea to let you know what we see happening in Kenora.
Our residential housing market is strong. Interest rates are at record low levels and there are Buyers wanting to buy homes. As Realtors our biggest challenge at the moment is finding homes for them to buy. Unlike the US, mortgage money is available for home buyers and the Banks want to lend money for home purchases. So if you are thinking of selling but thought the local market had softened that's not the case.
This trend holds true for the past 30 to 45 days since the US problems surfaced. So from our prospective Buyers have not lost confidence in home ownership in our area.
We are fortunate that in our area we have not seen huge price increases which artificially inflate market values only to see them drop just as fast.