In the News

  • Storeys Insiders | September 28, 2023

    Expert: Interest Rates Are Putting The Brakes On Buying

    While it's certainly promising that the Bank of Canada held its rate in early September, that doesn't mean we'll be seeing a big difference in buyer confidence this fall. After those last couple of hikes, and with inflation still being higher than it should be, consumers have really put the brakes on buying. It's going to take a lot more than one rate hold to rebuild confidence. In fact, buyers are likely to head back to the sidelines until there's more certainty around interest rates.

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  • Storeys Insiders | August 25, 2023

    ‘We’re In A Holding Pattern:’ An Expert’s Take On Ontario’s Struggling Market

    ​A surprisingly strong housing market and record immigration have delayed the predicted slowdown, but they haven't prevented it. RealServus President John Lusink talks about what the Ontario real estate market holds for buyers, sellers, and agents.

    The short-term global economic outlook remains weak. Inflation has been slow to decline, and with recession concerns, stricter lending standards, and weaker consumer and business confidence, experts predict it will stay above Central Bank targets for most of 2023.

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  • Storeys Insiders | July 26, 2023

    Expert: Amid Recent Rate Hikes And The Summer Season, Market Recovery Stalls 

    In April and May, the Canadian housing market looked like it was poised for a comeback, heating up steadily after the Bank of Canada held steady on rate increases for a few months. May numbers (released in mid-June) showed a positive trend, with sales climbing a very respectable 5% month-over-month, new listings up by 6.8%, and the national average price up 3.2% year-over-year.

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  • Storeys Insiders | June 23, 2023

    How The Bank of Canada’s Rate Hike Impacts The Residential Housing Industry

    On June 7, the Bank of Canada (BoC) surprised economists and observers by announcing a 25-basis-point increase in the overnight lending rate, pushing it to 4.75%. The move aims to curb the continued expansion of the Canadian economy, which is still growing despite interest rates being at their highest level since 2001. One sector that closely watches these changes is the residential housing industry. With the central bank increasing interest rates, prospective homebuyers, homeowners, and real estate professionals are left wondering how this move will influence the housing market.

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  • Storeys Insiders | June 9, 2023

    Expert: Lip Service Alone Will Not Solve The Housing Crisis

    As spring reveals its blossoms, it brings forth a renewed perspective on the real estate landscape, highlighting the interplay between seasonal shifts and the ever-evolving dynamics of the housing market.

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  • Storeys Insiders | April 28, 2023

    In a Changing Market, Here’s How to Set Agents Up for Success

    It may be cliché, but nonetheless, this well-known quote should be the anthem for every real estate agent. Agents who entered the business 10 years ago, possibly even 15 years ago, have never known a down or recessionary market. Other than a few blips here and there, prices have steadily appreciated while supply has not kept pace with population growth, thanks in large part to immigration policy and major world events.

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