We’ve noticed an uptick in both the number of offers and overall market activity as we approach the spring season. This surge is largely attributed to the widespread belief among consumers that the Bank of Canada has capped its interest rate hikes, with expectations leaning towards a decrease in rates throughout the year. This shift has bolstered consumer confidence, spurring demand in the market. Consequently, well-priced and attractive homes are now frequently receiving multiple offers. However, it’s important to note that February often serves as a transitional period, moving from the typically slower winter months into the bustling spring market. This makes it a somewhat challenging time to fully assess market trends. As we move into spring, it will be fascinating to see how these dynamics evolve.
We’re here to keep you informed and up-to-date, so please don’t hesitate to reach out if you have any questions.