The real estate market is facing uncertainty. Buyers and sellers are holding back, waiting for clarity on interest rates, job security, and economic stability.
In this episode, we tackle these concerns head-on:
- What’s driving the hesitation?
- Where are interest rates heading?
- How should you approach buying or selling right now?
Stay with us as we break down what you need to know before making your next move.
Real Estate Market Update: What You Should Know Right Now
The real estate market is facing uncertainty. Buyers and sellers are holding back, waiting for clarity on interest rates, job security, and economic stability.
Here’s what you need to know:
1. What’s Happening in the Market?
- Many buyers are sitting on the sidelines.
- Developers were ready to launch new projects but paused due to rising construction costs and potential tariffs.
- Uncertainty around jobs and income is keeping people cautious.
Despite this, motivated buyers are still transacting—and finding opportunities.
2. What About Inventory Levels?
- Inventory remains low across ownership and rental markets.
- Builders are holding back supply, waiting for better conditions.
- Investors are also waiting. But we need them to stimulate the market.
Low inventory creates potential opportunity for buyers who act now.
3. Is This a Buyer’s Market?
- Yes. Buyers can negotiate—something we lost during the pandemic boom.
- Home prices are reasonable, and some buyers are securing attractive variable-rate mortgages.
- Variable rates carry risk, but rate cuts could make them worth considering.
Ask yourself: can you handle short-term fluctuations for a potential long-term gain?
4. What Happened During the Pandemic?
- Real estate became an essential service, keeping the market moving.
- Technology, virtual tours, and remote work reshaped buying behavior.
- People upgraded homes or bought investment properties.
Real estate played a major role in propping up the economy.
5. What’s Next for Rates?
- Some economists predict up to four rate cuts from the Bank of Canada this year.
- If you can tolerate risk, consider a variable rate to capture future savings.
- If you need peace of mind, fixed rates are still reasonable.
Which matters more to you—certainty or savings potential?
6. Are Foreclosures Increasing?
- We’re not seeing a wave of foreclosures—but power of sales are rising.
- A power of sale gives homeowners time to catch up before the bank sells the property.
- Foreclosures are harsher—ownership transfers directly to the lender.
If your mortgage renews soon, review your options early to avoid risk.
Final Thought:
Real estate remains a powerful driver of the economy. Whether you’re buying, selling, or renewing, you need to understand the current landscape. Opportunities exist—but so do risks.
Ask yourself: Are you ready to act, or will waiting cost you more?