But why would new houses affect resales so much? You have to wait at least a year or two (or longer) for the house to get built while a resale home can be moved into within months. Also, there are a lot of new builds going up in Brampton area and that area seems to be bouncing back from an average price standpoint.
rjg4235 wrote: ↑Oct 11th, 2017 3:22 pmI was wondering the same. If you look at Whitby on Zolo and look at the house type breakdown even though the average is down YoY each category is up. Houses up 5%, Towns up 8% and Condo up 9%. The only way that the average can be down if all are up is if there is a sales mix change. What I suspect is that the huge developments all through out Durham are really hurting the resale of bigger houses. So the average looks down because it only factors in resale. There are a ton of new developments in Durham atm.