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The strong August market carried over into September. Home sales this September were 11.4% higher than they were in September 2023.


There is some speculation that the Bank of Canada, with their October 23rd policy decision, could lower the key lending rate a further .5%, with some economists saying that even if they do not go to that level, they believe that they will lower the rate by .25%.

If you are buying and aren’t pre-approved, get out now, get pre-approved, and find your house. You could face more competition for your dream home after the announcement, and then you may have to pay more than you would if you get out now!

Heading into October, the market was balanced, so no advantage to either buyers, or sellers. Homes sold for around 98% of the asking price in September. This could change, depending on what the Bank of Canada announces later this month.

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Based on the summer market, the outlook for the fall market is encouraging and it looks like we will be looking at a pretty active fall market!

The third consecutive interest rate drop is welcome news and it should help both buyers and sellers.

More homes are coming on the market compared to the same time last year.

Based on the number of days I have seen that it is taking for homes to sell, the increased selection has buyers taking more time to look and decide.

Want more information, do not hesitate to ask! I am happy to help.
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