The real estate landscape in 2024 has started on a positive note, and industry experts predict a further acceleration in market conditions in the latter half of the year. This creates a timely opportunity for prospective homebuyers to make their move before the market potentially witnesses a resurgence of multiple offers and frenzied activity. As highlighted in a recent Globe and Mail article, attempting to time the mortgage rate cuts may not be the best path forward.
“The truth is no one knows the future of interest rates – even Mr. Macklem is uncertain about the possibility and timing of rate cuts. For first-time home buyers navigating the uncertainty, it’s crucial to acknowledge that a crystal ball for mortgage rates doesn’t exist. And getting caught up in the hype and uncertainty surrounding the future of rates is dangerous. When you buy
your first home, aim for a reasonable degree of certainty regarding the people in your life and your housing needs; otherwise, you will end up having to sell sooner than you had planned and perhaps in unfavorable market conditions, costing yourself tens or even hundreds of thousands of dollars.”
For more details, scroll through Royal LePage Sussex recently released 12 page report below……
RLP Sussex - Jan 2024 Sussex- Market Stats Brochure (3)
