Click Here To See Full Market Stats

Homebuyers still have the upper edge in our current housing market. With a substantial amount of homes on the market and relatively low home sales, buyers haven’t had this much choice in very long time.

Interest rates have now broken below the 4.00% barrier, and as the year moves on, the expectation is that further lower rates will allow many of the home buyers who have been on the sidelines to return to the market.

The monthly average prices in our charts show wide swings in values however don’t take that at face value. These numbers have more to do with sales mix as opposed to actual price changes in the market due to the low sales volumes. Low-rise homes have remained stable in pricing with room for negotiations for the buyer. Condos have continued to be a strong buyers market with prices declining in many areas due to investors looking to offload rentals.

Uncertainty regarding tariffs between the U.S. and Canada, along with an upcoming federal election, has caused some buyers to hold back from making purchases. As clarity on these issues emerges, we can expect those buyers to re-enter the market once their situations are more certain.

Links to other e-newsletter Articles