Your Niagara Real Estate Podcast: Ep. #37
Season 3 is here! We take a look back at how wrong our 2023 predictions were, dig up some dirt and then move forward with our goals and thoughts heading into 2024. We hope you dig it. 🙂
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SubscribeSeason 3 is here! We take a look back at how wrong our 2023 predictions were, dig up some dirt and then move forward with our goals and thoughts heading into 2024. We hope you dig it. 🙂
Throughout the year, we’ve noticed a pattern similar to the previous year, particularly influenced by interest rates. The mid-year interest rates had a noticeable downward push on the market, leading us to what we consider the bottom. However, in the real estate cycle, hitting the bottom usually suggests an upcoming rise, which is what we’re anticipating for 2024.
Our pals Emily Barry (The Barry Team from Revel Realty) and Jason Jacobs (Home Team Realty Group from Royal Lepage State Realty) join us for a good ol’ fashioned round table discussion of yet another entertaining year in Niagara real estate.
The current climate, marked by high borrowing costs and economic uncertainty, has led to a noticeable slowdown in house sales. Many sellers opt to delay their plans, looking towards next year as a more opportune time to sell. However, it’s important to note that the Niagara region is experiencing its highest number of listings since the fall of 2014, with approximately 2,800 properties on the market.
It is a buyers market, buyers take advantage of the next few months because this is here now and will be gone by next year. Sellers, be patient, you time is coming again, and we’ll keep you updated!