THUNDER BAY — According to the local real estate board, the city's housing market is still lacking in inventory, something they are lobbying to change.
Wes Case, the president of the Thunder Bay Real Estate Board, said the local board is reaching out to various levels of government.
"As a real estate board, we've lobbied both the local MPPs and MPs, as well as our mayor. I'm just trying to collaborate and help them any way we can to try and get more homes built."
The current housing market in Thunder Bay is still a "seller's market," meaning there are fewer dwellings for potential buyers to look at and choose from.
"I think nationally and locally, we have a housing supply concern until they really start to get more homes built," Case said.
"I think it's really going to be hard to predict how fast that will change."
Case noted by the end of 2023, the average price of a single family house in Thunder Bay had gone up by about three per cent. He also said sales were down in 2023 compared to 2022 by 14 per cent.
The average house in Thunder Bay cost approximately $320,000 in 2023 according to the Thunder Bay Real Estate Board.
