Let’s have a look at the market report for June; how did your municipality do? And what does the Niagara Association of Realtors say about the current numbers?
Nathan Morrissette, NAR President, made the following statement:
“The Benchmark price has essentially levelled out last month and it’s likely going to take multiple rate cuts from the Bank of Canada to start seeing a real impact on the housing market.
Our current inventory is over 2800+ Active Listings in Niagara and that is giving buyers more options to choose from and forcing sellers to be competitive and make sure they are positioned correctly to attract buyers. All levels of government need to work together to make housing attainable in Niagara.”
The current market is giving buyers a chance to shop around and take the time to find their dream home, while it is important for sellers to have their house priced realistically.
The consensus is that in September the Bank of Canada will cut down the rates with 0.25%.
As always, if you have any questions, don’t hesitate to call me! 905-321-5050.
