Saturday, April 4, 2009
March Home Sales Stabilize
Last month, 669 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), including 551 detached homes (down 7.2% from March 2008) and 118 condos (down 21.9% from March 2008). Year to date, 1,174 detached homes and 276 condos have been sold – down 22.6% and 27% respectively compared to the same period in 2008. "Compared to January and February of this year, we are certainly seeing stabilization in home sales in LSTAR'S jurisdiction," says Joe Hough, LSTAR President. "January sales for detached homes were down 35% and February sales for detached homes were down 30%, so to see March home sales for detached homes down just 7.2% is very encouraging."