What does the housing market look like for 2023

Dated: January 10 2023

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What does the housing market look like for 2023?

Stabilization is a good word to describe the predicted outcome for the economy and the housing market.

As the economy will be stabilizing, we will be seeing a semblance of normalcy or balance in the housing market as it is predicted to return to pre-pandemic levels in terms of inventory and buyer/seller conditions.

The interest and inflation rates are predicted to have reached their peak as the Bank of Canada confirmed that it will be taking a “wait and see” approach in 2023.

Can we expect a rate relief? Many experts are hopeful that it will happen before the end of the year. This should positively impact the housing market by increasing buyers’ confidence.

If you would like to know more about the housing market, reach out to us!

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