Home prices are falling, but interest rates are surging. It’s a confusing time to be buying or selling a home in the GTA.by spring of 2023, which will provide some relief for prospective buyers hoping to enter the real estate market who might not have been able to a year ago.
Meanwhile, sellers are holding off listing properties because they’re worried they won’t make as much as they did earlier this year when the market was sizzling, leading to the lowest inventories seen in decades.Real estate experts weigh in on what it all means whether you’re buying or selling.For buyers, the first step is to understand the numbers, Papaioannou says.
“If you plan it that way and it appreciates on the lower end, say three per cent, then, in seven years, when you go to sell, you’re not in the hole and can afford to pay things like realtor fees, land transfer tax and other fees.” “However, if the seller is someone in a position where they don’t need to sell again, then lowballing is hit or miss.”
And lieberals are trying to take credit for decreasing house prices! I guess technically, they did. Just not the way they claim. Print money...inflation...increase interest rates to counteract our useless dollar, no one can afford a home with new interest rates. Liberal logic.