While many Canadians have adjusted to the increased cost of borrowing, elevated interest rates continue to impact activity in markets across the country, keeping some buyers and sellers stuck on the sidelines. During the third quarter, inventory rose and sales activity softened, although this did not necessarily translate into steep price declines. Canada’s chronic shortage of housing supply is keeping property prices relatively stable.
In this month’s edition of our Real Estate Facts & Figures, we have put together the stats for October 2023 including the latest Royal LePage Market Update Report. Having the right real estate team with the experience, marketing systems and negotiating skills is more important than ever in today’s market. If you have any questions or would like to know what your home is currently worth, please don't hesitate to contact us.