As I'm sure most of you have heard, the Bank of Canada decided to hold its benchmark interest rate steady at 5% yesterday. This marks the 4th interest rate hike in a row, and suggests that cuts may be on the horizon.
For any questions, or if you'd like to discuss how this might affect your real estate decisions, please do not hesitate to reach out to us!
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The Realtors Association of Edmonton just had their 2024 Housing Forecast, so we wanted to break down some key elements of what was discussed.
With all of the factors heading into this year (e.g. increased migration to Alberta, potential for significant interest rate decreases and shortage of detached single-family homes), this could be a very exciting year in the real estate world.
If you have any questions, or would like to discuss any of the above in further detail, please do not hesitate to reach out to the YEGListings Group!
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With no apparent relief from elevated interest rates on the horizon, the shortage of inventory is helping keep sales volumes (and average sales prices) at reasonable levels. Sales volumes are up across the board versus same month last year, but down compared to Sept 2023.
For more information on how this has impacted your property, or any other questions, reach out to the YEGListings Group!
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