Hamilton Market Commentary June, 2024
I hope you're having a fantastic summer and finding some time to relax! If you're considering a weekend getaway, take a look at the article about the Niagara region. I spent a weekend there in May and rediscovered some of its world-class wineries. As for market news, this summer has been quite busy for me. Buyers have enjoyed increased housing choices in the GHA-GTA marketplace, with the annual growth in new listings outpacing sales. This better supply has provided buyers with some relief as average selling prices have slightly decreased. It’s encouraging to see July sales improve compared to last year. We might be beginning to notice the positive effects of the two Bank of Canada rate cuts announced in June and July. Additionally, borrowing costs are expected to drop further in the coming months, which should lead to an acceleration in sales as buyers take advantage of lower monthly mortgage payments.
If you're considering a move this fall, please reach out! I would be delighted to guide you through my complimentary buying and selling process.
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