What will 2024 bring to the market? We’ve been fielding a lot of questions with regards to interest rates and when they may or may not come down, and how this will affect pricing. Will housing prices hold steady? Will they rise? If prices go up, then by how much?
While we don’t have all the answers we can say that we do strongly feel that the bank of Canada will be very strategic about how they decrease the rates over the course of the upcoming year and will likely time it against how things unfold with the market.
With regards to pricing increases, We’ve been seeing reports and data that suggest anywhere from .4% increase all the way to a 7% increase. These averages are not always going to do any favors or help you at all because ultimately the numbers all really depend on what type of home you are looking for and what area.
For example, if you’re looking at a semi or a town-home in a rural area versus a huge piece of land or a condo in the city, the averages won’t help support any decisions that you’re trying to make as a buyer or seller.
If you’re looking for real advice and real numbers, we are here to help and happy to answer any questions you may have. Give us a shout at andrea@florianrealtyteam.ca or call 289-218-8119 and we’ll set you up on a call with one of our team today!