Quick market update

I just wanted to give a quick update on the market and real estate in general. 

We saw a 50 basis point reduction of the Bank of Canada rate just before Christmas and the next meeting will be at the end of January. However, they did say that with the policy rate now being a lot lower than 6 months ago it is likely we will see a more gradual approach this year. However, with Trudeau stepping down and a new president south of the border we are still waiting to see if this has an impact.

Already this year we have seen a bit more activity with regards to buyers coming off the fence and viewing properties, which is likely because they are starting to see mortgage rates come down. The latest predictions have said that 2025 will be busier than 2024 and nationally we could see a slight increase in prices by the end of the year.

If you have any questions please do not hesitate to call or email - thanks.

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