Real Estate Blog - Blog Archive: December, 2023

421 homes were sold last month via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), 8.9% less than in November 2022.

“While housing demand is exceptionally high throughout our region and the entire country, the resale data from November appears to indicate that this demand may not be reflected by the activity in the local real estate market for the remainder of this year, and possibly not until spring 2024," explained 2023 LSTAR Chair Adam Miller. "The resurgence in activity we witnessed this past spring could serve as a preview of what to expect next year. The determining factors will include whether the Bank of Canada finds it necessary to raise interest rates again or if, by next March, it becomes a matter of when we'll…

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