March 13th, 2018 by

Slower days for real estate business

The year is off to a considerably slower start for real estate sales in the Quinte region than it was in 2017.

According to the Quinte District Association of Realtors, 140 residential units were sold last month, way down from 299 units sold in February of last year.

Total dollar sales for all property types was just over 55 million dollars last month, down 44% from last February’s close to 98 million dollars.

The President of the Realtors Association Natasha Huizinga says the new mortgage stress test that came into effect on January 1 could be slowing sales down.

Here is the entire release.