Homebuyers in Canada Are So Frenzied They Won’t Wait for Rates to Go Down

2 min read

3 months ago Market News - RSS Feed

Buyers in Canada are starting to venture back into the housing market, seeking to get ahead of any possible shopping frenzy spurred by expected rate cuts from the Bank of Canada.

Bloomberg News

Ari Altstedter

Published Feb 02, 2024 • 4 minute read

Homes for sale at the Juniper condo development in North Vancouver, British Columbia, Canada, on Tuesday, Sept. 13, 2022. Already, frothy markets such as Australia and Canada are facing double-digit house-price declines, and economists believe the worldwide downswing is only getting started. Photographer: Taehoon Kim/Bloomberg Photo by Taehoon Kim /Bloomberg

(Bloomberg) — Buyers in Canada are starting to venture back into the housing market, seeking to get ahead of any possible shopping frenzy spurred by expected rate cuts from the Bank of Canada.

An unusual sales rally in December has stoked speculation that the Canadian housing market may start to heat up even more. With prices still soft as the central bank signals that it’s done raising its benchmark rate, buyers are trying to find the best time to purchase property before more competition floods in and pushes prices back out of reach.

Advertisement 2

Bloomberg News

2024-02-02 06:19:34

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator

Read more from original source here…

Tags: Business News