The Quebec Professional Association of Real Estate Brokers says Montreal sales in July fell by 18 per cent last year, with the plexes category alone seeing a 38 per cent drop.
The association says sales for the month amounted to 3,080 compared with 3,772 last year, while homes with between two and five units plunged from 454 last July to 281 last month.Rising interest rates hit home owners and buyers harder – Jul 13, 2022 Charles Brant from the association’s market analysis department interpreted the drop as confirmation that the market dynamic has shifted, largely because of a significant hike in the country’s key interest rate.
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