The bank of Canada continues to cut its policy rate as the unemployment rate climbs and the economy slows further. Seasons greetings to all and best wishes for a healthy and prosperous 2025.
Well, it would seem that many sellers are optimistic that the increased limit for first time buyers purchase price will help achieve a higher sale price after December 15th. Sales and listing start to decline once again. Is this seasonal or a trend?
Mortgage renewals, lower immigration, 30,000 newly completed condos coming in 2025 and rising condo resale/rental inventory. Are these the required ingredients to burst the real estate bubble?
The federal government has lowered its immigration targets, admitting that they may have underestimated the impact on housing prices and inflation. Check the photos on your listing! Are you on the way to Destination S.E.T?
It's going to be an intetesting couple of weeks as we head into the US presidential election and an inevitable 50 basis point cut to the BOC's policy rate. Add in another government initiative to make housing more accessable. Will we start to see a shift back to higher prices and a sellers market?
It's all in the numbers. Will the market continue to rebound from the latest policies announced by the federal government? Or, will the gap between buyers and sellers continue to grow?
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