When is the Best Time to Buy a Home? | The Mortgage Den
In Episode 4 of The Mortgage Den, host Nick Da Silva and Royal LePage Broker Ken Latif discuss the latest trends in the Canadian real estate market. Despite a 2.5% month-over-month decline, the market shows a 1.5% year-over-year increase, presenting both opportunities and challenges. They explore the impact of high interest rates on homebuyers, many waiting for rates to drop, and how reduced immigration has led to a rise in inventory, now at 17,000 properties—up 148% from last month. They also touch on the challenges homebuilders face with stalled projects and a surplus of 25,000 unsold units. Despite these obstacles, Ken Latif explains why now might be the best time to buy for financially prepared buyers. With Ontario real estate appreciating at an average of 6-7% annually since 1960, experts remain optimistic about future price growth. Tune in to The Mortgage Den for expert insights on navigating the Canadian real estate market.
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