remains “sluggish,” but a rebound may have already begun thanks to three consecutive interest rate cuts, a new report by Royal LePage suggests.
Royal LePage forecasts that further interest rate cuts could mean an early spring housing market boost in Canada. “First-time buyers, who are more sensitive to interest rates, are adopting a wait-and-see attitude. With home prices essentially flat and interest rates steadily declining, they perceive no penalty in postponing their purchase.”
While retail sales rebounded in the third quarter, compared with the second quarter, the report said they are expected to be “very weak” in the fourth quarter as more firms report experiencing insufficient demand. This leaves the level of sales unchanged from one year ago, the report, published in the CFIB’s economic publication Main Street Quarterly, said.
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Canada's 'sluggish' housing market in recovery mode following interest rate cuts, Royal LePage forecast predictsRoyal LePage’s latest housing market forecast predicts a real estate rebound that will see Canada’s “sluggish” markets in recovery mode by spring following a third straight interest rate cut.
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Canada's 'sluggish' housing market in recovery mode following interest rate cuts, Royal LePage forecast predictsRoyal LePage’s latest housing market forecast predicts a real estate rebound that will see Canada’s “sluggish” markets in recovery mode by spring following a third straight interest rate cut.
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Sellers of dated bungalow prioritize fast sale in sluggish summer marketSixteen agents toured the space, later bringing roughly 100 buyers for a look during open house events over two weekends this summer
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