๐ก Canadian Housing Market Update ๐ก
The market remains in a holding pattern as both buyers and sellers wait for lower interest rates. Sales saw a slight rise in August ๐, but are still down from last year. With rates expected to drop below 4%, first-time buyers may find better affordability soon! ๐ฐ
๐ Average home price: $649K
๐ Listings up 18.8% from last year
๐ Market activity expected to pick up by Spring 2025!
The question remains: will lower rates be enough to balance rising home prices? ๐ค
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