London Ontario Real Estate September 2023 UPDATE Prices FALL

#londonontariorealestate #londonontario #lstar

London’s real estate prices dropped across the board in September, with a major flood of new inventory, and interest rates inching near 6 percent putting downward pressure on demand.

Links:

September 2023 LSTAR Statistics:

https://www.lstar.ca/our-latest-statistics

LACKIE: September market stats will tell the tale of a market in transition:

https://torontosun.com/opinion/columnists/lackie-september-market-stats-will-tell-the-tale-of-a-market-in-transition

Home Prices in Canada Are Too Rich for Higher Rates, Ex-Central Banker Says:

https://www.bloomberg.com/news/articles/2023-10-02/home-prices-in-canada-are-too-rich-for-higher-rates-ex-central-banker-says

Policy interest rate:

https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

RBC February 2020 Mortgage Rates:

https://web.archive.org/web/20200331190459/https://www.rbcroyalbank.com/mortgages/mortgage-rates.html

RBC Mortgage Rates:

https://www.rbcroyalbank.com/mortgages/mortgage-rates.html

2021 Census:

https://www12.statcan.gc.ca/census-recensement/2021/dp-pd/prof/details/page.cfm?Lang=E&SearchText=London&DGUIDlist=2021S0503555&GENDERlist=1,2,3&STATISTIClist=1&HEADERlist=

Distressed deals pile up in Canada's once-booming housing market:

https://www.bnnbloomberg.ca/distressed-deals-pile-up-in-canada-s-once-booming-housing-market-1.1780269

‘The pain is real.’ Why this segment of the GTA real estate market is starting to see more distressed buyers:

https://www.thestar.com/real-estate/the-pain-is-real-why-this-segment-of-the-gta-real-estate-market-is-starting/article_42c398ec-4c33-5585-87bb-3074ace90655.html

Mark Mitchell – Mortgage Broker London Ontario
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London, Ontario N5Z 3J1
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