Market Commentary January 2023
I believe time is our most precious commodity. So whether you're spending the day solo or spending it with your loved ones, I hope you have a peaceful and joyful day!
"Being the richest man in the cemetery doesn't matter to me. Going to bed at night saying we've done something wonderful... that's what matters to me." Steve Jobs
Inventory has increased in number across all price points in the Greater Hamilton area, especially the lower price ranges. At the top of this year we saw increase in sales of homes priced under $800,000 and supply options in that price range are better compared to last January. However, total home sales are down 26 per cent year over year. The good news is, although prices are down 21 per cent compared to January 2022 they are still above pre-pandemic levels. Read the full RAHB Report.
“ ...Bank of Canada announcement that interest rate hikes are likely on hold for the foreseeable future will prompt some buyers to move off the sidelines in the coming months. Record population growth and tight labour market conditions will continue to support housing demand moving forward,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron. Read the full TRREB Report
