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January 2024 - Beginnings of GTA Market Shift

Tuesday Jan 23rd, 2024

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GTA Real Estate Market Update: January 2024 The volume of home sales has trended down dramatically since the Bank of Canada started raising the Overnight rate (Prime rate) in March of 2022. But things started to shift at the end of last year. RBC reported that the Toronto-area market woke up from its slumber as 2023 drew to a close. Home resales spiked 21% in December. RBC also made some rate predictions in the same report stating that by the end of this year, they anticipate the... [read more]

Market Watch - Ontario Homes Sales on the Rise

Thursday Feb 22nd, 2024

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We had a positive start to 2024. The Bank of Canada expects the rate of inflation to recede as we move through the year. This would support lower interest rates which would bolster home buyers' confidence to move back into the market. First-time buyers currently facing high average rents would benefit from lower mortgage rates, making the move to home ownership more affordable. Once the Bank of Canada starts cutting its policy rate, likely in the second half of 2024, expect home sales to... [read more]

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Laura Smythe

Laura Smythe

Sales Representative

Royal LePage Realty Plus Oakville, Brokerage

Your Neighbourhood Realtor

2347 Lakeshore Rd. West., Oakville, ON, L6L 1H4

laurasmythe@royallepage.ca

(289) 888-3120

(905) 825-7777

(905) 825-3593
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