Declines in HPI & Revised Predictions

Your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

Royal LePage trims year-end price forecast after sluggish third quarter

While many Canadians have adjusted to the increased cost of borrowing, elevated interest rates continue to impact activity in markets across the country, keeping some buyers and sellers stuck on the sidelines. During the third quarter, inventory rose and sales activity softened, although this did not necessarily translate into steep price declines. Canada’s chronic shortage of housing supply is keeping property prices relatively stable.

Hoping for a recession to decrease housing prices is like wishing for a flood to water your garden

Hoping for a recession to decrease housing prices is like wishing for a flood to water your garden. Policy-wise, a recession would likely be overkill for restoring affordability. Furthermore, falling housing prices could have unintended consequences since consumers will reduce their demand for other goods and services.

Bigger, longer downturn expected in housing sales and prices: TD Economics

TD says home prices and sales will likely go down from Q2 levels during this year’s last quarter (Q4) and the early part of next – by 6 per cent and 8 per cent, respectively.

Population change and appropriate supply increase from previously low levels are at the root of the decline.

Light The Night is a Belleville area community event that brings light to the darkness of cancer by funding lifesaving research and support for people battling blood cancer. Family, friends and co-workers gather together to celebrate, honour or remember those touched by blood cancer.

The Halloween Home Boo Tour returns for 2023! Celebrate the spooky spirit throughout Quinte West leading up to October 31. From Oct. 17 – 31, explore all four wards in Quinte West and check out the incredibly decorated homes, balconies, porches, yards or residences.