Rob Johnson

Here’s a good article published in REM September 19 by Karen Yolevski, Royal Lepage explaining how declining rates will eventually trigger more buyers to enter the market, which will cause prices to increase.  The question is when will rates bottom out? https://realestatemagazine.ca/unlocking-homeownership-why-interest-rate-cuts-are-not-the-only-key-to-getting-first-time-buyers-in-the-door/

Read on…..https://www.canada.ca/en/department-finance/news/2024/09/government-announces-boldest-mortgage-reforms-in-decades-to-unlock-homeownership-for-more-canadians.html?utm_source=sfmc&utm_medium=email&utm_campaign=COMM_News2Me_EN_2024-09-19&utm_term=https%3a%2f%2fwww.canada.ca%2fen%2fdepartment-finance%2fnews%2f2024%2f09%2fgovernment-announces-boldest-mortgage-reforms-in-decades-to-unlock-homeownership-for-more-canadians.html&utm_id=1124535&sfmc_id=22383141

Here’s an interesting article regarding the state of the market across the country posted by Matt Day September 17th on CREA’s website: https://www.creacafe.ca/canadian-real-estate-activity-flat-as-a-pancake-in-august/?utm_source=sfmc&utm_medium=email&utm_campaign=COMM_News2Me_EN_2024-09-19&utm_term=https%3a%2f%2fwww.creacafe.ca%2fcanadian-real-estate-activity-flat-as-a-pancake-in-august%2f&utm_id=1124535&sfmc_id=22383141

This supports my feeling that most buyer’s are sitting on the sidelines right now waiting for interest rates & pricing to bottom out before acting.