The sizzling conditions have become more pronounced during the COVID-19 public health crisis, with stellar price growth and exceptional sales activity occurring in Ajax, Oshawa, Whitby and other Durham municipalities.
According to the Durham Region Association of REALTORS® , residential property sales tumbled 33.7 per cent month-over-month in December, totalling 671 units.
Despite the tepid slowdown in December, 2021 was a record-breaking year, with home sales soaring 13.9 per cent.
Canada Mortgage and Housing Corporation reported housing starts slipped 19.11 per cent year-over-year to 182 units in November.
“We generally see a decline in transactions as we enter the winter months, especially with the holidays.
According to the 2022 RE/MAX Canadian Housing Market Outlook report, Durham Region real estate prices are projected to climb seven per cent to a jaw-dropping $978,566, while sales growth is also expected to grow seven per cent.
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