It is important to remember that all real estate will vary with local trends, which may run counter to national trends. Your local REALTOR® will have his or her finger directly on the pulse of the market in which you want to buy.
National trends do indicate a slightly softened market, but no more so than was expected with the tighter national mortgage regulations. Supply numbers indicate that there are fewer newly listed Orangeville homes on the market, despite the national indicators pointing to a developing seller’s market.
One of the most accurate pricing indicators is the MLS® home price index, which indicates what people are willing to pay based upon a home’s features.
Again, your local REALTORS® can tell you what the MLS® price index is in your area and how much you should expect to pay for the features you want.