[et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”0px||3px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.20.2″ _module_preset=”default” width=”95%” max_width=”100%” custom_margin=”||-24px||false|false” custom_margin_tablet=”||-24px||false|false” custom_margin_phone=”||-34px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”55px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_breadcrumb _builder_version=”4.20.2″ _module_preset=”default” custom_margin_tablet=”” custom_margin_phone=”30px||-10px||false|false” custom_margin_last_edited=”on|phone” global_colors_info=”{}”][wahi_breadcrumb-link title=”Real Estate 101″ _builder_version=”4.18.0″ _dynamic_attributes=”link_option_url” _module_preset=”default” link_option_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjcyMiJ9fQ==@” global_colors_info=”{}”][\/wahi_breadcrumb-link][wahi_breadcrumb-link title=”Buy” _builder_version=”4.18.0″ _dynamic_attributes=”link_option_url” _module_preset=”default” link_option_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjE2MzIifX0=@” global_colors_info=”{}”][\/wahi_breadcrumb-link][wahi_breadcrumb-link title=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@” _builder_version=”4.18.0″ _dynamic_attributes=”title” _module_preset=”default” module_text_color=”#686E6E” global_colors_info=”{}”][\/wahi_breadcrumb-link][\/wahi_breadcrumb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.20.2″ _module_preset=”default” custom_padding=”16px||4px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _dynamic_attributes=”content” _module_preset=”default” header_font_size=”3.5rem” header_line_height=”4.5rem” header_font_size_tablet=”42px” header_font_size_phone=”1.5rem” header_font_size_last_edited=”on|phone” header_line_height_tablet=”3.5rem” header_line_height_phone=”2.1rem” header_line_height_last_edited=”on|desktop” global_colors_info=”{}”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IjxoMT4iLCJhZnRlciI6IjwvaDE+In19@[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”1px||1px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_socialsharing _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/wahi_socialsharing][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”15px||0px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|desktop” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n
A wave of mortgage renewals, supply challenges, and cautious homebuyers are all projected to impact the Canadian real estate<\/a> market this season.<\/span><\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” custom_margin=”||11px|||” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n By Josh Sherman<\/a>\u00a0<\/span>| 5 minute read<\/p>\n [\/et_pb_text][et_pb_post_title title=”off” author=”off” date_format=”M j” categories=”off” comments=”off” featured_image=”off” _builder_version=”4.18.0″ _module_preset=”default” custom_margin=”||26px|||” global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”0px||3px|||” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” width_tablet=”” width_phone=”100%” width_last_edited=”on|desktop” custom_padding=”0px||9px|||” global_colors_info=”{}” width__hover_enabled=”off|desktop”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9mZWF0dXJlZF9pbWFnZSIsInNldHRpbmdzIjp7fX0=@” align=”center” force_fullwidth=”on” _builder_version=”4.18.0″ _dynamic_attributes=”src” _module_preset=”default” custom_margin=”1px||29px|||” border_radii=”on|32px|32px|32px|32px” border_radii_tablet=”on|32px|32px|32px|32px” border_radii_phone=”on|0px|0px|0px|0px” border_radii_last_edited=”on|desktop” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font_size=”1.13rem” text_line_height=”1.75rem” custom_margin=”-18px||2px|||” custom_padding=”||7px||false|true” custom_padding_tablet=”||7px||false|true” custom_padding_phone=”|15px|7px|15px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”1.13rem” text_font_size_phone=”0.9rem” text_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n In a normal year, the Canadian housing market heats up in the spring \u2014 but experts note that this year is anything but normal.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”1px||39px|||” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”16px||16px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” min_height=”158.4px” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n All eyes are on Canadian real estate as the spring market gets underway.\u00a0<\/span><\/p>\n \u201cSeeing when interest rates are going to come down, the anticipation around that, the anticipation around what will happen to the housing market given the volatility it has experienced over the last few years, certainly there\u2019s a lot of attention \u2014 and arguably more attention than there has been in several years,\u201d Marc Desormeaux, principal economist at Desjardins<\/a>, tells Wahi.<\/p>\n <\/p>\n With the official start to spring already behind us, Wahi asked experts what they\u2019re noticing in the real estate market so far \u2014 and what they expect to see through June.<\/span><\/p>\n <\/p>\n \u00a0<\/span><\/p>\n \u201cOne thing we\u2019re seeing is that both consumers and the Bank of Canada are taking a \u2018wait and see\u2019 approach. There are a lot of unknowns regarding how the market will react to rate cuts,\u201d Bekim Merdita, executive vice president of Rocket Mortgage Canada<\/a>, tells Wahi.<\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/p>\n <\/span><\/p>\n Desormeaux of Desjardins doesn\u2019t anticipate a substantial increase in sales activity (or prices) until the Bank of Canada, which has held the overnight rate at 5% since July 2023, embarks on a rate cut. That\u2019s something it last did in March 2020 and would be a move that should tempt many more buyers off the sidelines. \u201cOur view is that we won\u2019t see a really strong rebound in the market until the Bank of Canada reduces rates and makes it official, but we could see some buyers enter before that happens if they are fairly certain that rate cuts are coming soon, and this is something we\u2019ve seen even at the beginning of this year,\u201d he explains.<\/p>\n <\/p>\n Desjardins and other major financial institutions don\u2019t foresee a cut until June at the earliest, but with an announcement scheduled for April 10, the central bank could surprise us sooner. \u201cI suspect that there will be some anticipatory behaviour where folks get in earlier,\u201d adds Desormeaux. These homebuyers could be rewarded, experts say.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#edf7f3″ custom_padding=”32px||32px||true|false” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||25px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” header_2_text_align=”center” header_2_text_color=”#38505b” header_2_font_size=”2.63rem” header_2_line_height=”3.75rem” max_width=”800px” module_alignment=”center” header_2_font_size_tablet=”32px” header_2_font_size_phone=”21px” header_2_font_size_last_edited=”on|phone” header_2_line_height_tablet=”3.75rem” header_2_line_height_phone=”32px” header_2_line_height_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”32px||23px|||” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”11px||14px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n <\/p>\n \u00a0<\/span><\/p>\n In a recent report<\/a>, RBC Assistant Chief Economist Robert Hogue says the latest available data from the Canadian Real Estate Association (CREA) suggests there\u2019s \u201ca bumpy ride for the market in the months ahead.\u201d<\/span><\/p>\n <\/p>\n <\/span><\/p>\n This past February, the benchmark price of a Canadian home was $719,400, representing the first time since August 2023 that it didn\u2019t decline month-over-month and signaling a possible end to the correction. \u201cBut this more upbeat outlook isn\u2019t yet translating into a steady recovery in activity. The sharp loss of affordability during the pandemic still firmly restrains buyers,\u201d notes Hogue, who underscores home sales declined 3.1% month-over-month. \u201cWhile the tightening of demand-supply conditions since December has paved the way for modest price appreciation, resales are likely to bounce around amid a standoff between buyers and sellers.\u201d<\/p>\n –<\/span> Of course, trends vary locally. Alberta, for example, benefits from a relatively stronger economy driven largely by the oil industry. That continues to attract out-of-province homebuyers who are willing to resettle for better employment prospects. \u201cWe anticipate that the gains will be muted in the Canadian housing market, broadly speaking. Some cities are doing better \u2014 Calgary and Edmonton are still looking pretty strong<\/a> \u2014 but Toronto and Vancouver are likely to feel the impacts of those effects,\u201d Desormeaux tells Wahi, citing a cooling economy overall as another headwind in addition to the heightened-interest-rate environment.<\/p>\n <\/p>\n <\/span><\/p>\n \u00a0<\/span><\/p>\n The first quarters of this year represent the beginning of a \u201cmassive mortgage renewal wave in Canada,\u201d notes Merdita. \u201cAn estimated 60%-65% of mortgages will renew in 2024, 2025, and 2026. The clients renewing primarily have rates in the 2.5% range so with fixed rates currently in the 5% range, people are hopeful the Bank of Canada and the bond market move in their favor.\u201d (While variable mortgages are more immediately sensitive to BoC rate decisions, posted fixed-rate mortgage rates generally move in line with bond yields.)<\/span><\/p>\n \u00a0<\/span><\/p>\n <\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section” module_id=”sell-widget” _builder_version=”4.24.2″ _module_preset=”default” background_color=”#f0faf4″ custom_padding=”0px||0px||false|false” da_popup_slug=”sell-widget” da_disable_devices=”off|off|off” global_colors_info=”{}” global_module=”300579″ theme_builder_area=”post_content” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” _builder_version=”4.24.0″ _module_preset=”default” background_enable_color=”off” module_alignment=”center” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”1_2″ _builder_version=”4.24.0″ _module_preset=”default” custom_css_main_element=”margin: auto;” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2024\/04\/Frame-7115.png” title_text=”Frame 7115″ src_tablet=”” src_phone=”https:\/\/wahi.com\/wp-content\/uploads\/2024\/04\/Frame-7115-1.png” src_last_edited=”on|phone” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.24.0″ _module_preset=”default” custom_css_main_element=”margin: auto;” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” header_font=”Poppins|700|||||||” header_line_height=”44px” max_width=”100%” max_width_tablet=”” max_width_phone=”270px” max_width_last_edited=”on|phone” module_alignment=”center” custom_margin=”||10px||false|false” header_text_align_tablet=”” header_text_align_phone=”center” header_text_align_last_edited=”on|phone” header_font_size_tablet=”” header_font_size_phone=”30px” header_font_size_last_edited=”on|desktop” custom_css_main_element=”font-weight: 800 !important;” custom_css_free_form=”#sell-widget h1{|| font-weight: 700 !important;|| font-size: 30px;||}” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font_size=”22px” text_line_height=”26px” header_font=”||||||||” header_line_height=”26px” header_2_font_size=”22px” header_2_line_height=”26px” max_width=”100%” max_width_tablet=”” max_width_phone=”270px” max_width_last_edited=”on|phone” module_alignment=”left” custom_margin=”||30px||false|false” text_font_size_tablet=”” text_font_size_phone=”18px” text_font_size_last_edited=”on|phone” text_orientation_tablet=”” text_orientation_phone=”center” text_orientation_last_edited=”on|phone” module_alignment_tablet=”” module_alignment_phone=”center” module_alignment_last_edited=”on|phone” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n We’ll match you with a proven agent in your area.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/wahi.com\/ca\/en\/find-a-realtor-in-your-area” button_text=”Learn more” button_alignment=”left” button_alignment_tablet=”” button_alignment_phone=”center” button_alignment_last_edited=”on|phone” _builder_version=”4.24.2″ _module_preset=”default” custom_button=”on” button_text_size=”12px” button_border_radius=”4px” button_letter_spacing=”1px” button_font=”|700|||||||” button_use_icon=”off” custom_margin=”||||false|false” custom_padding=”10px|20px|10px|20px|true|true” button_text_size_tablet=”” button_text_size_phone=”13px” button_text_size_last_edited=”on|phone” custom_css_main_element=”font-weight: 800 !important;” custom_css_free_form=”#sell-widget a.et_pb_button{|| font-weight: 600 !important;||}||||@media (max-width: 600px){||#sell-widget a.et_pb_button{||display: block;||text-align: center;||}||}” global_colors_info=”{}” custom_css_main_element_last_edited=”on|phone” custom_css_main_element_phone=”font-weight: 800 !important;||display: block;||text-align: center;” theme_builder_area=”post_content” custom_css_main_element_tablet=”font-weight: 800 !important;”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”29px||0px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||4px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.6em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”29px” header_2_font_size_phone=”19px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Homeowners who are unable to afford higher mortgage payments may be compelled to list their homes for sale, Desormeaux suggests. In a <\/span>previous Desjardins report<\/span><\/a> published midway last month, the economist already observed a rise in new listings on the market. <\/span>\u201cFebruary\u2019s second consecutive increase could mean improving market sentiment if prospective sellers are responding to recent strength in buying activity,\u201d he writes in the report. \u201cBut rising listings could also reflect homeowners forced to sell under pressure from higher mortgage rates at renewal.\u201d While the extent to which each scenario is driving more listings on the market remains unclear, this increased supply could ultimately boost home sales due to pent-up demand, he explains.<\/span> <\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”33px||33px||true|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Josh Sherman” image=”https:\/\/wahi.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-02-at-7.46.57-PM.png” icon_placement=”left” _builder_version=”4.18.0″ _module_preset=”default” header_font_size=”24px” header_line_height=”1.2em” body_text_color=”#686E6E” body_line_height=”0em” width=”550px” max_width_tablet=”” max_width_phone=”” max_width_last_edited=”on|phone” module_alignment=”left” custom_padding=”2px||13px|||” header_font_size_tablet=”24px” header_font_size_phone=”20px” header_font_size_last_edited=”on|phone” header_line_height_tablet=”1.2em” header_line_height_phone=”1.4em” header_line_height_last_edited=”on|phone” custom_css_blurb_image=”width:64px;” global_colors_info=”{}”]<\/p>\n Wahi Writer<\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”1px||0px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_socialsharing module_class=”wahi_socialsharing_2″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/wahi_socialsharing][et_pb_divider show_divider=”off” _builder_version=”4.18.0″ _module_preset=”default” height=”30px” locked=”off” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#ffffff” custom_padding=”5px||3px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||19px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.6em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” custom_margin=”||23px|||” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”29px” header_2_font_size_phone=”27px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_blog_extras posts_number=”3″ include_categories=”23,21,22″ blog_layout=”masonry” meta_date=”M j” excerpt_length=”0″ show_more=”off” show_author=”off” category_color=”#686E6E” show_comments=”off” module_class=”zoom-blog” masonry_columns_tablet=”” masonry_columns_phone=”1″ masonry_columns_last_edited=”on|phone” _builder_version=”4.18.0″ _module_preset=”default” filterable_category_font_size=”20px” active_filterable_category_font_size=”20px” header_font=”Lato||||||||” header_font_size=”1.25rem” header_line_height=”1.88rem” meta_text_color=”#686E6E” meta_font_size=”16px” custom_css_title=”font-weight:900!important;” custom_css_post_meta=”margin-top:-32px!important;” locked=”off” global_colors_info=”{}” custom_css_title__hover_enabled=”on|desktop” custom_css_title__hover=”font-weight:900!important; text-decoration:underline;”][\/et_pb_blog_extras][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ disabled_on=”off|off|off” _builder_version=”4.24.2″ background_color=”#f0faf4″ custom_margin=”||||false|false” custom_padding=”2px||0px||false|false” da_disable_devices=”off|off|off” border_color_bottom=”#686E6E” global_module=”277894″ locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row custom_padding_last_edited=”on|phone” _builder_version=”4.20.2″ _module_preset=”default” width=”85%” width_tablet=”” width_phone=”95%” width_last_edited=”on|phone” custom_margin=”|auto|3px|auto||” custom_margin_tablet=”” custom_margin_phone=”” custom_margin_last_edited=”on|phone” custom_padding=”82px||43px||false|false” custom_padding_tablet=”” custom_padding_phone=”60px||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” header_2_text_align=”center” header_2_text_color=”#38505b” header_2_font_size=”3.1rem” header_2_line_height=”3.9rem” width_tablet=”” width_phone=”” width_last_edited=”on|phone” max_width_tablet=”” max_width_phone=”90%” max_width_last_edited=”on|phone” custom_margin=”-5px||16px||false|false” custom_margin_tablet=”” custom_margin_phone=”||0px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”||||false|false” custom_padding_tablet=”” custom_padding_phone=”||0px||false|false” custom_padding_last_edited=”on|phone” header_2_font_size_tablet=”29px” header_2_font_size_phone=”2.1rem” header_2_font_size_last_edited=”on|phone” header_2_line_height_tablet=”3.75rem” header_2_line_height_phone=”3rem” header_2_line_height_last_edited=”on|desktop” module_alignment_tablet=”” module_alignment_phone=”center” module_alignment_last_edited=”on|phone” locked=”off” global_colors_info=”{}” width__hover_enabled=”off|desktop”]<\/p>\n [\/et_pb_text][et_pb_code _builder_version=”4.24.2″ _module_preset=”default” custom_padding=”0px|||||” global_colors_info=”{}”]
Traditionally the busiest time of year for home sales, this spring is shrouded in uncertainty and speculation. A rapid runup in borrowing costs followed by expectations that the Bank of Canada will soon begin cutting its overnight rate<\/a> \u2014 which influences the mortgage market \u2014 has put more attention on the seasonal market. <\/span><\/p>\nHomebuyers Are Taking a \u201cWait-and-See Approach\u201d \u2014 for Now<\/b><\/h2>\n
“We do know that demand for home ownership is as high as ever and most Canadians view owning a home as a major financial and familial goal. We don\u2019t expect this to change.”<\/strong><\/span><\/h2>\n
\u201cA Bumpy Ride\u201d Ahead?<\/b><\/h2>\n
The standoff that Hogue describes is based on how homebuyers and sellers are likely to view the market very differently. The former may be encouraged by the slight uptick in prices and stand firm in negotiations, while the latter have limited homebuying power due to heightened interest rates and other housing-affordability challenges. \u201cWe expect these positions will lead to a standoff between the two parties in many markets, keeping deal making subdued until interest rate cuts boost buyers\u2019 purchasing budget later this year.\u201d
–<\/span><\/p>\n<\/h2>\n
A Wave of Mortgage Renewals Is Just Beginning\u00a0<\/b><\/h2>\n
Find the Right REALTOR\u00ae for You<\/h1>\n
<\/span>
<\/span>Supply \u2014 or lack thereof \u2014 ultimately remains top of mind for many policymakers in addressing the housing-affordability crisis, and it should continue to influence the market moving forward. \u201c<\/span>We\u2019re still facing a supply issue and we\u2019re not building homes fast enough to support our growing population,\u201d notes Merdita of Rocket Mortgage Canada. \u201cRates certainly have an impact on housing affordability, but supply and demand will ultimately dictate housing prices.\u201d<\/span>
<\/span>
<\/span>Looking at the big picture, Merdita remains confident in Canadians\u2019 overall attitudes toward homeownership. It\u2019s a sentiment supported by a recent Wahi survey of Angus Reid Forum members which found that nearly <\/span>one in five Canadians<\/span><\/a> aged 18 and up say they probably will or may buy a home this year. \u201cWe do know that demand for home ownership is as high as ever and most Canadians view owning a home as a major financial and familial goal,\u201d says Merdita. \u201cWe don\u2019t expect this to change.\u201d\u00a0<\/span>
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