The number of homes sold in March is up from February in over half of all local housing markets, led by Ottawa and Montreal. Monthly sales gains were offset by declines in B.C.'s Lower Mainland, the Okanagan Region, Chilliwack, Calgary and Edmonton.
While a national snapshot is interesting as a backdrop for our local market, and you can read more through the link. Here in Victoria, the number of homes sold over last month rose 26.2 per cent as 688 properties sold in the Victoria Real Estate Board region.
It's certainly fewer than last year - 25.9 per cent down from the 929 homes sold last March. That's likely due to the federal government's new mortgage qualification rules combined with rising interest rates.
While there are outside pressures on the market and demand has lessened somewhat, supply is still tight, and spring is an excellent time to sell your home.
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