If it’s felt like lots of “for sale” signs have been popping up on local lawns lately, it’s not just your imagination. Following a prolonged period of strained inventory in Kitchener-Waterloo real estate, the last month has seen a flood of new listings coming into the market. While housing affordability remains a concern, this market shift has resulted in a levelling off of the steep month-over-month increases that were almost becoming routine.

There were 1422 new listings in the month of May, which is a whopping 33.9% increase over the same month last year. This significant increase in inventory has been a major factor in this market shift. The Bank of Canada’s interest rate increase is another, and with more increases likely on the horizon, we may be looking forward to a bit more stability in the market.

This is all welcome news for potential buyers, who have had to approach buying a house as if it were an Olympic sport over the last year or two. With more space for conditions and negotiations, it alleviates some of the extreme pressure they were under.

But, this doesn’t mean it’s bad news for sellers! Even with this slow down, it remains a seller’s market, and homes are still selling quickly and at very high prices. It just takes a slightly different strategy to position yourself for success in selling your home in a shifting market. This is where we can help! Contact us anytime to discuss how we can help you navigate the changing market and help you reach your goals.

Read the full report here.