Rochelle Levy Real Estate

MARKET UPDATE – January 2024 🏡
“We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future. A growing number of homebuyers have also come to terms with elevated mortgage rates over the past two years. To minimize higher monthly payments, some buyers have likely saved up a larger down payment, chosen to purchase a less-expensive home type and/or looked to a different location in the GTA,” said TRREB President Jennifer Pearce.
“As we move through 2024, an increasing number of buyers will re-enter the market with adjusted housing preferences to account for higher borrowing costs. In the second half of the year, lower interest rates will further boost demand for ownership housing. First-time buying activity will also be a contributing factor, as many renters look to trade high monthly rents for a long-term investment in which they can live and build equity,” said TRREB Chief Market Analyst Jason Mercer.
For a more detailed summary of the market in your neighbourhood and what I'm seeing everyday, please call. I'd love to chat! .
☎️ Ring Ro (416) 662-0376

Attention Toronto Homeowners!
Don't forget about the upcoming 'Vacant Home Tax' declaration deadline! ⏰ If you own a property in Toronto, make sure you're in compliance with the city's regulations.
Reach out if you have any questions!
☎️ Ring Ro (416) 662-0376

Grateful for the opportunity to work with amazing clients, whose trust and collaboration make the process truly rewarding. I truly appreciate the kinds words and referrals, thank you!