Home sales recorded through the MLS® System of the Kingston & Area Real Estate Association came in below year-ago levels in September 2012.
Residential sales numbered 219 units in September, a decrease of 20 per cent from the same month last year. Sales of all types of properties numbered 247 units in September 2012, down 17 per cent on a year-over-year basis.
“There’s no doubt that demand has geared down a bit in the wake of new mortgage rules, but it’s important to recognize that this September suffered from what’s known as a trading day effect, with just 20 weekdays compared to 22 last September, so we have to consider the size of the year-over-year decline in that context,” said Al Sytsma, President of the Kingston & Area Real Estate Association.