The Busiest Month EVER for Guelph Home Sales

The Guelph and District Association of Realtors reported new home-sales records for the month of July 2020.  The increase for housing sales from July 2019 to July 2020 was  23.9% and is caused by low inventory, pent up demand as buyers were unable to buy in April and May, businesses saying they are going permanently to work from home, and people needing bigger houses and low interest rates. That means it was the busiest month EVER.

What does that mean for Guelph? It means we are still in a hot seller's market and are running out of inventory. We sold 285 houses in July but only 261 new houses were listed. This means we have less than 1 month’s inventory available and if we want the market to cool here we need more people to put their houses on the market and more builders building houses.