Happy International Woman’s Day! Bank of Canada left the rate alone, but fixed rates are dropping already & good news for the Brantford economy.

View this email in your browser CURRENT INTEREST RATES You may be eligible for the New to Canada program that can assist with the purchase of a home with just 5% down on homes under $500,000. IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS Search for home in Ontario real estate market ‘humbling’ for first-time buyers (Global News) Toronto home prices inch up as buyers adapt to mortgage rate landscape (Yahoo Finance Canada) Hamilton housing market 'relatively balanced' in February (The Hamilton Spectator) New report finds Hamilton homes worth less than $500,000 'essentially gone' (The Hamilton Spectator) Brantford Expositor - City to mark International Women's Day Brantford Expositor - Done deal: SC Johnson staying in Brantford Brantford Expositor - Norfolk Home & Lifestyle Show attracts 2,500 people Brantford Expositor - City looking to unlock potential of Brantford airport Brantford Expositor - Event celebrates local women in business Brantford Expositor - Brant bumps taxes by 8.7% for 2024 Brantford Expositor - City provides free parkade parking during Bulldogs games Brantford Expositor - Brantford councillors approve housing plan for Arrowdale Brantford Expositor - The grand canyon': Huge crater on Erie's shore underlines erosion threat The Bank of Canada has left its benchmark rate unchanged at 5.00%. Read the full bank statement here B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says (Canadian Mortgage Trends) Canada Mortgage and Housing Corporation's First-Time Home Buyer Incentive program ending March 21 (Simcoe) Rate cuts are on the way, but not this week, economists say (Canadian Mortgage Trends) Mortgage renewal in 2024? Experts weigh in on how to get the best rate (Yahoo Finance Canada) How natural hazard and its catastrophic loss impact housing affordability, supply and demand (real Estate Magazine) Canadian real estate market sees doubling of home prices over past decade (Real Estate Magazine) First-time homebuyer incentive program ending, CMHC says (Global News)Home sales up in major metro areas as buyers bet on rate cuts later this year (Canadian Mortgage Trends)   Diana Winger, REALTOR® CNE, SRS, SRES, ABR Mortgage Agent, Level 1 Valko Financial LTD #13047 eXp Realty | Dominion Lending Centres |  226-705-3369 | 250-588-8839 ON YOUR TEAM! WingerRealEstate.com Housesforsale365.com   |   SearchBestMortgages.com  

MORE

More inventory means greater opportunity in Victoria real estate market & Happy International Woman’s Day!

More inventory means greater opportunity in Victoria real estate market March 1, 2024  A total of 470 properties sold in the Victoria Real Estate Board region this February, 2.2 per cent more than the 460 properties sold in February 2023 and a 37.8 per cent increase from January 2024. Sales of condominiums were down 5.6 per cent from February 2023 with 152 units sold. Sales of single family homes increased 1.8 per cent from February 2023 with 224 sold."We saw glimmers of a start to the spring market over the course of February," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "In addition to the increase in sales, more than five hundred new listings came to market when compared to last year's inventory numbers. This much needed inventory gives buyers more selection and more time to make their purchasing decisions. We've also seen prices continue to remain stable, which is excellent for buyers and sellers because it makes the transaction much more predictable."There were 2,364 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2024, an increase of 10.5 per cent compared to the previous month of January and a 30.7 per cent increase from the 1,809 active listings for sale at the end of February 2023."We noted an increase in townhome sales this past month," adds Chair Lidstone. "Townhomes are an important segment of missing middle housing, one that is undersupplied in the Greater Victoria area. Hopefully the fifty per cent increase in townhome sales compared to last year will encourage more development of this type of housing to meet our missing middle housing needs. If you are considering a move this coming spring, it's a great time to connect with your REALTOR® to make a plan."The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2023 was $1,251,000. The benchmark value for the same home in February 2024 decreased by 0.3 per cent to $1,247,400, up from January's value of $1,244,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2023 was $549,300 while the benchmark value for the same condominium in February 2024 increased by 1.4 per cent to $557,000, down from the January value of $559,000.About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,648 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.View our press release and summary here.View our complete statistical package here. CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS Victoria Times Colonist - Discount-price condos were to be sold only to first-time buyers; 13 sued for buying when they didn't qualify Victoria Times Colonist - Eric Akis: No need for meat in barley soup Victoria Times Colonist - Island acts vie for $1M on new season of Canada's Got Talent Vancouver-area sales and listings on the rise: real estate board (CBC News) Victoria Times Colonist - CRD takes steps to purchase Brentwood Bay strip mall for affordable housing Victoria Times Colonist - Greater Victoria real estate sales, inventory up in 'glimmers' of spring market Victoria Times Colonist - Langford property-tax hike rises to 15.6%, with amenity funds no longer offsetting increases The Bank of Canada has left its benchmark rate unchanged at 5.00%. Read the full bank statement here B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says (Canadian Mortgage Trends) Canada Mortgage and Housing Corporation's First-Time Home Buyer Incentive program ending March 21 (Simcoe) Rate cuts are on the way, but not this week, economists say (Canadian Mortgage Trends) Mortgage renewal in 2024? Experts weigh in on how to get the best rate (Yahoo Finance Canada) How natural hazard and its catastrophic loss impact housing affordability, supply and demand (real Estate Magazine) Canadian real estate market sees doubling of home prices over past decade (Real Estate Magazine) First-time homebuyer incentive program ending, CMHC says (Global News) Home sales up in major metro areas as buyers bet on rate cuts later this year (Canadian Mortgage Trends)       Diana Winger Personal Real Estate Corporation eXp Realty | CNE, SRS, SRES, ABRMortgage Agent Level 1 Valko Financial LTD #13047Dominion Lending Centres HomeVictoria.com | Housesforsale369.com WingerRealEstate.com | SearchBestMortgages.com(250) 588-8839  (226) 705-3369ON YOUR TEAM!

MORE

December Numbers are In. Are we in a Recession? Presale Risk and the Turning Point in the Housing Market.

CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS Kitchener-Waterloo leads nation in housing price decreases since June: report (City News) 'Market conditions': Slow December caps off worst year for GTA real estate sales in 23 years (Brampton Guardian) Real estate prices have dropped in many Ontario markets since June. These are the communities with the biggest declines (CP24) National Post – Kitchener-Waterloo leads price fall in Canadian real estate: report Toronto is a step closer to building one of the largest affordable housing projects in decades (CBC News)  'People need to have comfort': House prices keep rising in Oakville but dropping in Burlington while sales drop in both municipalities, new real estate report reveals (Inside Halton) Economists see 'turning point' in housing market this year as interest rate cuts loom (CTV News) 82 per cent of Canadians believe the country is in a recession: survey (iHeartRadio) A wave of defaults has real estate lawyers urging presale buyers to be cautious (CBC News) The brutal 2023 housing market was just like the 1980s—except with a little bit of Global Financial Crisis thrown in (Yahoo! Finance) Financial Post - GOLOMBEK: Buying your first home? These are the top 3 tax strategies to use Financial Post – This Canadian housing market just had its worst year since 2000 Financial Post – Mortgage payments set to jump $400 a month, but Canadians can cope, say banks Financial Post – Housing market faces 'turning point' with Bank of Canada rate cuts this year National Post – HOLMES: How to make the most of multi-generational living Globe and Mail – Economists see ‘turning point’ in Canadian housing market this year as interest rate cuts loom Fixed mortgage rates are on the decline. Is now the time to lock in? (Global News) Canadian homeowners face large increases to property taxes (CTV News) Digging for deals in the winter real estate market (The Globe and Mail) Even with expected rate cuts, mortgage payments will continue to rise for years: BoC research (Canadian Mortgage Trends) The housing market is heading for the affordability of 2 years ago, Morgan Stanley says. Here’s why its home price forecast is unchanged (Yahoo! Finance) As weather-related disasters mount, some Canadian homeowners can't get insurance coverage (CBC News) Interest rate cut forecasts for 2024 too optimistic, National Bank CEO warns (The Globe and Mail) Strategies to reveal winter real estate deals (The Globe and Mail) Calgary transforms old offices to apartments; experts say other cities should follow (CTV News Calgary)   Diana Winger, REALTOR® CNE, SRS, SRES, ABR Mortgage Agent, Level 1 Valko Financial LTD #13047 eXp Realty | Dominion Lending Centres |  226-705-3369 | 250-588-8839 ON YOUR TEAM! WingerRealEstate.com Housesforsale365.com   |   SearchBestMortgages.com     Share Tweet Forward

MORE