Bill's 2025 Market Update

2024 turned out to be a very challenging year with a significant drop in sales volume and price due to high interest rates and market uncertainty. 

With the Trump's administration Tariff wars against Canada and globally, its impact on inflation and job uncertainty, 2025 is likely not going to be a robust year to say the least! Granted interest rates have come down somewhat, its impact does not outweigh the worries of employment in many buyers minds. 

With so many new condos up for possessions some ill-afford investors may have to resort to selling at a loss and in some cases needing to financially "down-size"  or downright sell their homes to help with these closings. This will definitely have a negative impact on prices.

Succinctly, I foresee a rather weak 2025 real estate market save for the seasonal Spring market surge and Fall market blip. Much depends on the on-going tariff war and its impact on employment, our Canadian dollar and hence interest rates.