Is the glass half empty or half full? It's all about perspective in this Real Estate market. Like anything, when you have spoiled its hard to go back to the normal ways. A lot of people still talk about the crazy market in 2021/22 and how the prices were so high and they wish they sold then....forget about it and move on!
Interest Rates...
It's been over two years now and yes, interest rates suck! But the good news is we now have had two consecutive rate drops. If you are waiting for the rates to be at the lowest they can go, I would be very cautious about doing that because there are probably thousands of buyers with the same mentality. If you can afford to buy now, do it! There is lots of inventory out there and prices are still very fair along with good negotiations.
Home Prices vs 2022...
Here's a fact...in Oakville, home prices are only down 4% to 8% vs the crazy 2022 peak pricing....in Burlington, it's down 7% to 9%......if you don't recall, there was a time that prices were down about 25% in 2022 and everyone was in a panic. The market has been creeping back up beneath your noses and before you know it, we will be back on track to see more gains.
Home Prices vs 2023...
That being said, Burlilngton is up vs 2023 around 2% which is great and Oakville is still adjusting as it is donw 1% to 5%. Now you see why it's all about perspective!!
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