Economic uncertainty is keeping prospective homebuyers on the sidelines, the local realtors’ association says.

New data released Friday by the Cornerstone Association of Realtors revealed sluggish sales last month, even as inventory levels rise.

Local realtors sold a total of 675 homes in May via the association’s Multiple Listing Service (MLS) system, a drop of 9.3 per cent year-over-year, and 26.2 per cent less than the previous 10-year sales average for the month.

May’s residential sales included 427 detached homes (a drop of 8.4 per cent compared to May 2024) and 132 townhomes (down 1.5 per cent).

Semi-detached homes and condos saw the largest sales slump, with 67 condos sold (down 20.2 per cent year-over-year) and 48 semis sold (down 18.6 per cent).

Average prices saw year-over-y

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