Durham Region Real Estate Market Taking Another Step Towards Normalcy
Tags: durham region market, durham region real estate, clarington home prices, average durham region home price, average home price durham
You can all take a deep breath!
Finally, the average home price in Durham Region has fallen significantly for the first time in a while. It's been a record breaking first quarter of 2021 as homes have been selling like crazy. However, the Canadian Real Estate Association (CREA) announced that Canadian home sales declined by 8.4 percent between May and June 2021.
The average home price in Durham Region decreased by approximately $7000, whereas it has been increasing steadily for the most part since the pandemic began. This is great news for frustrated buyers, especially those first time home buyers who are trying to get into the housing market!
That being said, the housing market is still far from "normal" due to supply shortages. Home prices have absolutely skyrocketed in the past year or so, but the slight decrease could indicate that things are settling down.
Fingers crossed for all the frustrated buyers out there!
