July Market Update

Prices have slid a little bit. Stats are always skewed one way or another, but things are softening. We do expect that trend to probably continue a little, although again, not enough major changes that I would delay making a purchase decision. That’s probably something we should be chatting about more on a one-on-one basis.

We’re seeing a build in inventory, which is great for buyers. It gives more options and drives a bit more affordability. You might see 450 houses listed in a month and only 200 selling, so that adds to inventory. It puts downward pressure on prices and gives people more options and more time.

Speaking of time—inflation looks like it has tempered a little bit, and we’re back down under 2%. We’re hoping that the next rate announcement is a cut from the Bank of Canada—fingers crossed.

Outside of that, on the financing side, we have some cool products with National Bank that allow us to finance renovations, add basement apartments and accessory units—85% loan-to-value on that stuff—and they’ll help you through the construction job process. We can also help you with that on our side personally.



Anyways, if you want to chat real estate—you don’t have to buy, sell, or invest—just want to talk about the market or see what I do all day, give me a shout.