Fall is viewed by many as the real start of the year as children are back to school, summer holidays are over for many, cooler weather arrives and we begin to focus again on our daily routine.
It’s also typically a great time to start looking for a new home since more listings come onto the market which is perfect for buyers looking for a first home, forever home or an investment property.
The Canadian Real Estate Association (CREA) reported that the number of homes sold has declined over the last 4 months even though homes listed for sale have increased. The attempts by our federal government to “soften” the housing market by making it more difficult for buyers to qualify for financing appear to be working.
Robert Hogue, senior economist at RBC, stated “housing developments are consistent with our view that Canada’s housing market is in the process of moderating to a more sustainable level of activity”.
While interest rates have gone up slightly, affordability is still not a concern for many people. TransUnion (credit agency) recently stated that while mortgage debt has increased over the last several years, there are less Canadians with concerns about handling their mortgage payments and overall debt.
This could be the perfect time for you to make a move. Find out the options that are available to you and how much you can qualify for in today’s market. Together we can find the right mortgage that helps you achieve your goals. Call or email me today.