Rapidly rising interest rates are putting a damper on real estate market activity.
In December, the Town of Halton Hills home resales continued to decline.
But what does this really mean for those who are looking to sell?
Many of us are embracing the New Year with renewed optimism for the future. Although no one has a crystal ball, I’ve been keeping a close eye on the housing market which greatly improves my chances of formulating a more accurate understanding of the trends for 2023. There is no shortage of opinions of course, and the consensus is that the decline in sales will continue into 2023. As a Realtor, I’ve seen these trends before and it is my belief that there are real opportunities for sellers in 2023. Property inventories are decreasing and, more importantly, prices are stabilizing. There is no doubt that inflation and the accompanying rise in interest rates slowed the real estate market. You might agree with others who want to make a move but are reluctant to sell because of current market conditions. The spring real estate market is on the horizon and there are many reasons to consider making your move now. Let me start with the stats; the local real estate market has changed and pricing expectations with it. However, supply and demand have always been the drivers of a changing real estate market. What do you think? Call me direct to find out what this really means for you.