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Mar 25, 2024 · You’re not alone. According to Wahi’s recent 2024 Homebuyer Intentions Survey, nearly one-quarter (24%) of Canadians 18 to 34 say they might or probably will buy a home in 2024, while 22% of ...
- Market Considerations For First-Time Home Buyers
- Is Now A Good Time to Buy A House?
- How Important Is Seasonality When Buying A Home?
- How to Research Market Trends to Get A Good Price on Your Home
- Final Thoughts
Buying a house is a considerable commitment and depends on whether or not you have the budget, job stability, and credit to justify it. If you’re thinking of buying a home soon, here are some market conditions that should inform your decision to buy or not in 2024.
Mortgage ratesare currently sitting at highs not seen since 2001. Home prices have increased significantly since then, coupled with high interest rates, making it hard for many would-be homebuyers to qualify for a mortgage and want to enter the housing market at this time. However, buying now, if you have the means to do so, means you can start bui...
The time of year can play a significant role in the home-buying process. The housing market follows a seasonal cycle created by supply and demand. Seasonality affects the number of homes on the market and the purchase price. Historically, home sales pick up in the spring and summer, then cool during the fall and winter. If you’re looking for a deal...
Understanding how to research and read into market trends is essential to getting a deal as a buyer. Here are some strategies to help you navigate the housing market. 1. Monitor online news – the internet is a great source of information. You can find information on the housing market through media and news sites, real estate websites, and even blo...
Ultimately, the answer to the question, “Is now a good time to buy a house?”depends on your individual circumstances. While it’s important to consider seasonality and market conditions, it’s equally crucial to evaluate your finances and long-term plans. It’s impossible to perfectly time the market, but understanding what influences the housing mark...
Sep 11, 2024 · What we’ve seen in Toronto and Vancouver specifically is that there’s more household wealth tied to housing. In 2019, that was already around 46% to 47% of net worth. Meanwhile, across Canada ...
Apr 10, 2024 · “If you can get a house that maybe you were willing to pay $1.7 million six months ago for $1.2 million now, that’s really the benefit of buying in a down market,” says Chapman. “Building wealth is easiest when you trade up in a down market.” Ultimately, the decision to buy now or hold off comes down to your own personal needs and budget.
Nov 12, 2024 · GST rebates are calculated as follows. For homes under $350,000, the rebate amounts to 36% of GST, up to a maximum rebate of $6,300. For homes between $350,000 and $450,000, the maximum rebate of ...
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Aug 23, 2022 · The MLS Home Price Index (HPI) shows a decreased overall price of 1.7% from June to July 2022. Aside from the housing market itself, a recession could be looming in the near future, which could ...
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Jun 5, 2024 · In the Greater Toronto Area, the average selling price of a home was down 2.5% year-over-year to $1,165,691 last month. There were 2,701 sales in the City of Toronto, a 17.3% decrease from May ...
