Hey Buyers, Could This Market Be Your Time To Shine? - Issue 360


It’s pretty much impossible to turn on the news or scroll socials these days without being bombarded with opinions of the Canadian housing market from both sides of the spectrum. 

Talk about a confusing market!

Interest rates have increased significantly over the past year, and inflation - while it has been tamed somewhat - has kept prices for just about everything at an all time high.

So when it comes to the local real estate, it makes sense that there are a lot of questions about the future.

One of the most pressing questions I hear on a regular basis from prospective buyers - when will it be my chance to buy?

The short answer is simple - it depends.

Interest rate increases have done exactly what they were meant to do and started to slow demand. Buyers who were lining up outside of packed open houses just a few short months ago are slowing down their searches, watching their bank accounts, and feeling out how the changes to interest rates will affect their purchasing power.

As a result, sellers in most price ranges are seeing fewer offers with less money down and more contingencies rather than a barrage of aggressive, condition free offers within moments of hitting the market. 

What does this mean for you if you’ve been waiting to get your foot in the door? Fewer aggressive offers on the table means you have more time to make an offer that works for you, and there might even be some room to negotiate on price.  Just don’t expect any fire sales! Less competition means more opportunity and, if market projections hold true, this window of opportunity is likely to not remain open for long.  

Remember - at some point, buyers are going to catch on that opportunities and options have increased and start jumping back into the market en masse, pushing demand and prices back up. So if you’ve been waiting to see what the summer market does, now is your time to shine! Give me a call today to dig into how we can make this market work for you.

Thanks for reading & have a great weekend.

Paul Fitzpatrick

(519) 240-1722

Broker of Record 

Keller Williams Home Group Realty



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