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WITAAR's Latest Report is Here

Friday, 11 April 2025 15:20

By Georgia Newman

There's an increase in house listings, but fewer people are buying houses.

OXFORD COUNTY - The new Woodstock Ingersoll Tillsonburg & Area Association of Realtors (WITAAR) is report is out.

According to the statistics, WITAAR sold 107 houses in March. This is a 21.3 per-cent decrease from March 2024.

 WITAAR President Cassandra Benard, says the slowdown may be due to tariffs.

"With all the uncertainty around the implementation of new tariffs and the 25 per-cent automotive duties that came into effect in early April, it’s no surprise that many buyers hit pause in March."

Although real estate agents are selling less, there are more house listings this year.

There were 621 houses on the market at the end of March, which is a huge increase of 30.7 per-cent more than last year at this time.

Benard says that even though there are more listings, buyer confidence has taken a hit.

"As long as these tariffs persist, and until there’s more clarity around trade talks and the potential for further restrictions ahead, it’s likely that some buyers will continue to stay on the sidelines, and remain cautious about purchasing a home."

But it could be a great time to buy, as pricing for housing went down.

According to the WITAAR report, the cost of housing decreased 8.7 per cent to $611,258 a unit.

The market is still balanced however, it is tilted in favour of buyers.

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