Jeff  van de Bennet

Jeff van de Bennet

Associate Broker

Century 21 Foothills South Real Estate

Mobile:
403-795-8675
Office:
(403) 394-7721
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Jeff van de Bennet's blog

May 2022-MLS-Sales-Stats Lethbridge Broken Down

The average number of homes sold in May is up over the last 10 years, averaged homes sold 146. This May 175 sold. 
An increase of 20%
Total listings 14% below last year.  
Almost 10% fewer homes sold this May but last year May/2021 had the most sales in the last decade. 
Of the homes that sold, they averaged 38 days on the market! 
Average house sale price of what sold this year May was up to almost $340,000. 
The market is changing all the time and it is very busy.

Is now a good time to refinance your mortgage?

The big news in the mortgage world these days has been the steady increase in fixed mortgage rates.
Since the start of the year, fixed rates have risen approximately one percentage point, or 100 basis points. 
As a general guide, for every 0.25% increase in mortgage rates, your monthly payment will increase $12-$13 per $100,000 of debt. 

Bank of Canada Raises Rates by 25 base points

 

The Bank of Canada has just raised its key lending rate by 25 basis points, citing…
This marks the first change to the Bank’s overnight target rate in two years and the first rate hike since October 2018. 
In its statement accompanying the decision, the Bank said: “As the economy continues to expand and inflation pressures remain elevated, the Governing Council expects interest rates will need to rise further.”

What to Expect from Canada's Housing Market in 2022

I'd like to wish you a very happy, healthy and prosperous 2022!

Not many forecasters anticipated the extent of the housing market's performance in 2021. 

The year ended with both home sales and average prices up over 20% compared to the previous year, driven largely by historically tight housing supply and low interest rates. 

So, what can homeowners and homebuyers expect in 2022?

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Mobile:
403-795-8675
Office:
(403) 394-7721
323-8St. S., Lethbridge, Alberta, T1J2J5

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