Will the Rate Cut Save the Toronto Housing Market? скачать в хорошем качестве

Will the Rate Cut Save the Toronto Housing Market?

📲 Schedule a Call with Dan: https://www.condowong.ca/call June 2024 Toronto Real Estate Market Update: Impact of Rate Cuts We're halfway through 2024, and the real estate market has faced a challenging first half. According to the latest market watch report for May, things are looking even tougher. Today, we'll dive into the data to see just how bad it is. The biggest news this week? The Bank of Canada’s rate cut. Did it come just in time to turn the market around? Can we expect a different picture for the second half of the year? Let's discuss all of that in today's video. Highlights: • Market Comparison: How do May 2024 and May 2023 stack up? • Sales down by 21.7% • New listings up by 21.1% • Average price down by only 2.5% • Rate Cut Impact: The Bank of Canada has cut the policy rate from 5% to 4.75%, signaling further cuts ahead. Will this boost the market? • Psychological Shift: Why the first rate cut might mark the market bottom and bring buyers back. • Segmented Recovery: Not all market segments will recover at the same speed. Discover which housing types and areas are leading the recovery. Detailed Analysis: • 905 Area (Suburbs): Sales and prices for detached homes, semi-detached homes, townhouses, and condos. • 416 Area (Toronto): Positive trends in low-rise homes. Detached and semi-detached sales are up 14% from April to May. The market recovery is expected to be slow and steady, with a return to the 2023 peak predicted by spring 2025. End-users will drive this recovery, while investors remain cautious. Timestamps: 00:00 The Big News This Week 00:40 Market Watch Report: May 2024 vs May 2023 01:20 The Rate Cut Impact 03:48 The Market Trend: May 2024 vs April 2024 Coming Up Next Week: Exclusive insider news on developer plans and pre-construction market recovery. Make sure to subscribe and hit the bell for the latest updates!