The Sales have been going down for past 4 months
But New Listings has been down even more! Hence, prices have stabilized. This shall too pass.
Do you think FIRE SALES are coming?
Full Stats:
https://communications.torontomls.net/mlshome/download.php?link=market-stats/housing-charts/TREB_Housing_Market_Charts-December_2022.pdf
#dailyUpdates #helpfulrealtor #askme
We are still in EXCEPTION times. Nothing has gone back to
normal … Yet. It can take another 1-2 years before we are
in normal trends. Its time to Be Cautious – but not scared.
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Merry Christmas and Happy New Year to everyone
#helpfulrealtor #mohsensaleemrealtor #merrychristmas
Everyone knew that prices were coming down
But, that is the punchline: No one bought for the short-term.
They bought to live in and enjoy, or to buy and hold.
The short-term market economics doesn’t matter.
Price Drop hasn’t offset Qualification. FTHB are in worse
situation now after interest rate increase.
There are still options. Talk to your trusted pro’s.
– Mohsen (EXP Realtor)
+1 416-317-6226
#DailyUpdates #realestateinvesting #helpfulrealtor #gtasupply
News showing increase in Sales (but inventory is going down): https://www.ctvnews.ca/business/canadian-october-home-sales-up-from-september-first-monthly-increase-since-february-1.6153479 (Quote Referencing “November Rain” from Guns n Roses)
Is a lower mortgage rate better than a lower home price?
A monthly payment on a $400,000 variable rate mortgage. The monthly payment will remain at $2,111. However, more of that payment will be applied to interest and less to the principal portion of your mortgage.
Oct Stats + Mortgage Rates shared on WhatsApp and Facebook
https://facebook.com/mohsensaleemrealtor
https://chat.whatsapp.com/HOfrUfiOJJ30oQB9fAyaOd
PLAN A – TIME THE MARKET If inflation comes down next month you will feel like a GENIUS. If inflation stays persistently high you will feel like a LOOSER. LETS DISCUSS PLAN B- WIN WIN in all situation – or – Don’t Buy!
*Top 3 trends we are seeing across the board:*
1. Buyers are super picky (even though many are priced out)
2. Sellers are a little stuck and don’t know whom to believe
3. The average DOM is longer MEANS
More effort keeping the deal together
If you need help. Please contact me (or your trusted source(s)) – I/We will be happy to answer any questions you may have
Its not on every property – but when a good property comes to the market at a good price, it has biddings. Other metrics such as lower inventory + lots of showings are happening as well. Only thing missing is: Rate Relief! that will start tsunami again.
Its been full 4 months since the market received the 3
shocks! Now everyone is grasping the new reality & prices.
Buyer are trying their best to get deals, and sometime they
succeed… for now.
1% Increase did barely any damage. Even when interest rate
was 18% in 1980 (now its at 2.5%)… prices were going up!
I shared that chart two days ago in my Exclusive WhatsApp chat:
https://chat.whatsapp.com/HOfrUfiOJJ30oQB9fAyaOd
#helpfulagent #mohsensaleemrealtor #DailysupplyGTA #DailyUpdates
