I was taking a look at something my friend Chuck Charlton posted over at Milton Daily Homes about the correlation between interest rates and home prices. It got me curious about our area here in and around Collingwood and sure enough, the pattern, while not as pronounced, is the same.
In 2016, prices in our local area have climbed on average, over $200.00 a day. The prolonged period of low rates has led to steady increases in house prices. That would suggest that as rates begin to climb, we may see more balanced conditions ahead with prices climbing more in line with economic growth versus interest rates. Interesting times lay ahead.
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg