2017 ends up steady for home sales in Lethbridge
LETHBRIDGE – Residential real estate sales rebounded in the second half of 2017, according to the Lethbridge Real Estate Board.
Total sales volume in Lethbridge was $741 million, an increase of 1.53 per cent from 2016’s $730 million. The market saw 2,639 homes sold during the year, down by 26 or just under one per cent. At the mid-point of the year, sales volume had been down 4.1 per cent and the number of homes sold was off by 3.6 per cent.
CEO Cathy Maxwell said the numbers are a positive sign in light of new mortgage rules, which include a new minimum qualifying rate.
“We were a little bit nervous,” Maxwell said. “Because of these rules, you don’t know if people are going to wait to buy, and then adjust what they want and what they need, or if they will just go ahead and buy lower.”