Bottom or Not?

Bottom or Not?

We are hearing from many real estate champions that the market has hit the bottom and signs of an uptick are visible.  Well…deep in the data, there are some signs of improvement.

However, given the volatility in the world and the opaqueness of the evidence, I think it’s too soon to declare an upward trend.

There is much discussion in the industry that the fall will bring more listings. Buyers will move if they can find what they want.  Mortgage rates are expected to hold until the end of the year, so this suggests 4-5 months of known data. The “known” is helpful.

Rental prices are increasing and have been increasing for a few months. Increasing rental prices lead to increased purchases.  Why pay a landord, when you can be paying down a mortgage? At a tipping point, people choose to reinvest in their own empire rather than lose the income to rent.

For more discussion. Let’s talk.  janedepencier@chestnutpark.com/416-925-9191