Sales Increase & New Housing Starts Fall

New housing starts are slowing down month over month, approximately 16% according to the Globe and Mail, and sales have added an uptick of 1-2% over the last couple of months, according to the Canadian Real Estate Association. As much as you don't hear about it, there is a very slow and small recovery happening in the Real Estate market. Interest rates will fall further over the next 6 months as recession indicators point towards rate decreases happening. With every rate cut, more buyers enter the market, meaning that ever so slightly, competition rises. The only thing keeping the market as slow as it is right now is the sheer number of listings on the market. Once listings begin to decrease, which they will as sellers start to take their properties off market, we will see upward pressure on prices. So if you still want to get a "deal" on real estate you have about a 6-8 month window to do that, it's best to get ahead of the curve, so if you want to explore buying opportunities or deals in the presale or resale market, give me a call!