JULY SEES STABLE SALES AND MARKET BALANCE IN WATERLOO REGION HOUSING
THE MARKET IS BECOMING MORE ACCESSIBLE TO BUYERS, BUT SELLERS ARE RELUCTANT TO PARTICIPATE DUE TO SOFTER PRICING
“While sales volumes remained stable compared to last year, we’re seeing continued price adjustments across all property types,” says Christal Moura, spokesperson for the Waterloo Region market. “The Bank of Canada’s decision to hold rates steady in July, combined with increased inventory and price moderation, is creating more opportunities for buyers who have been waiting to enter the market, though broader economic uncertainties surrounding the Canada-US trade war continue to impact consumer confidence.” “The longer average days on the market reflect that we’re in a more balanced market environment,” Moura says. “This means that buyers can take their time to make informed decisions, while sellers are adjusting their expectations to fit the current market conditions.” The Bank of Canada’s next rate announcement is scheduled for September 17th. Most experts expect the Bank of Canada to keep rates steady at 2.75% on September 17, though markets see about a 1-in-3 chance of a small cut. If the economy shows more weakness especially in jobs and inflation. the Bank may be pushed toward easing sooner. Even if rates hold this time, many forecasters still anticipate cuts later in 2025.