Real Estate Blog - Blog Archive: July, 2023

The local housing market continued its steady streak in June, with 745 homes exchanging hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR). Housing supply increased from 1.7 months of inventory in May to 2.2 months of inventory in June, showing signs of market stabilization. 

“The sales activity in June is consistent with the activity from the last several months,” said 2023 LSTAR President Adam Miller. “This happened despite another interest rate hike last month. Halfway through the year, the sales demonstrate the strong demand for homes across the region, which is very encouraging.” 

The table below highlights home sales, average home prices and benchmark prices in LSTAR’s jurisdiction over the past four…

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