Sales of homes in Belleville declined sharply last month.
In a press release, the Quinte and District Association of Realtors says home sales dropped over 30% compared to the five- year average and the 10-year average for the month of July.
While sales have reduced, pricing has not, with the benchmark price of single family homes in the area increasing by just over six per cent, and increasing just over 24% for townhouses.
Quinte and District Association of Realtors president Valerie Miles says the reduction of sales is due to efforts by the Bank of Canada to reduce inflation making it harder to qualify for a mortgage.
