Home sales take dip in first quarter of 2018
LETHBRIDGE – As predicted, mortgage rules appear to have had a negative impact on home sales in Lethbridge.
In the first three months of 2018, 469 homes have been sold, down approximately 6.5 per cent from 502 sold at the same time last year. The dollar value was $128 million, down from $136 million.
Back in January, Cathy Maxwell, CEO of the Lethbridge and District Association of Realtors, said there might be an impact from changes to the mortgage rules, which include a new minimum qualifying rate. Speaking Friday, April 20, she believes that to be the case.
“In talking to the realtors on the street, and our board of directors, it is, we do believe, making a difference,” Maxwell explained. “We’re also seeing a difference even in people renewing their mortgages.”