06/12/2024
📉🏠 The Bank of Canada has reduced its key interest rate by 25 basis points to 4.75%, signaling the start of an easing cycle! While May home sales in the GTA remained slower than average, this rate decrease could boost activity in the latter half of 2024. Despite subdued sales, prices stayed resilient. 🏡💪
With more inventory available, buyers have more choices now, but this surplus may be short-lived as lower rates bring more buyers back into the market. Increased competition could drive home prices up by 10% in Q4 2024 compared to Q4 2023, according to Royal LePage. 📈🔮
