Posts Tagged ‘Homes For Sale’
Tuesday, March 4th, 2025
The introduction of new tariffs between the USA and Canada could have several implications for the Canadian housing market, particularly in Ontario, which is one of the most populous and economically significant provinces in Canada. Here are some thoughts on how these tariffs, along with other economic factors like interest rates and stock market performance, might impact the housing market:
1. Impact of Tariffs on the Housing Market
- Construction Costs: Tariffs on imported construction materials (e.g., steel, aluminum, lumber) could increase the cost of building new homes. This would likely be passed on to consumers in the form of higher home prices, particularly in markets like Ontario where demand for housing remains strong.
- Consumer Confidence: If tariffs lead to broader economic uncertainty or a slowdown in trade-dependent industries, consumer confidence could weaken. This might reduce the willingness of potential buyers to enter the housing market, particularly for higher-priced homes.
- Regional Effects: Ontario, being a major manufacturing hub, could feel the impact of tariffs more acutely than other provinces. If businesses face higher costs or reduced access to U.S. markets, job losses or reduced wage growth could dampen housing demand in certain areas.
2. Proposed Interest Rates
- Bank of Canada (BoC) Response: The BoC typically considers both domestic and global economic conditions when setting interest rates. If tariffs lead to slower economic growth or inflationary pressures (due to higher import costs), the BoC may adjust its monetary policy accordingly.
- Scenario 1: If tariffs cause inflation to rise, the BoC might increase interest rates to curb inflationary pressures. Higher interest rates would make mortgages more expensive, potentially cooling the housing market.
- Scenario 2: If tariffs lead to economic slowdown or uncertainty, the BoC might hold off on raising rates or even cut them to stimulate the economy. This could support housing demand by keeping borrowing costs low.
- Current Trends: As of late 2023, the BoC has been cautious about raising rates too quickly as we went up with 12 interest rate hikes and we have a downward trend now into 2025 with the last 5 interest rate reductions, given concerns about household debt levels and housing affordability. Tariffs could add another layer of complexity to their decision-making process.
3. Stock Market Downturn and S&P 500 Decline
- Wealth Effect: A decline in the stock market, particularly in the S&P 500, could reduce the wealth of Canadian investors who hold U.S. equities. This might lead to decreased consumer confidence and spending, including in the housing market.
- Investor Behavior: A downturn in the stock market could make real estate a more attractive investment option for some investors, potentially increasing demand for housing. However, this effect might be offset by broader economic uncertainty.
- Mortgage Rates: While the stock market and housing market are not directly linked, a significant decline in the S&P 500 could signal broader economic concerns. This might lead to lower bond yields, which could, in turn, result in lower fixed mortgage rates. However, variable rates would still be influenced by the BoC’s policy decisions.
4. Overall Housing Market Outlook in Canada
- Short-Term: In the short term, the combination of tariffs, potential interest rate changes, and stock market volatility could create uncertainty in the housing market. This might lead to slower price growth or even price declines in some regions, particularly if buyer confidence wanes.
- Long-Term: Over the longer term, the impact of tariffs on the housing market will depend on how they affect the broader economy. If tariffs lead to sustained economic weakness, the housing market could face headwinds. However, if the economy adjusts and growth resumes, the housing market could stabilize or even rebound.
- Regional Variations: Ontario, particularly the Greater Toronto Area (GTA), may experience different effects compared to other regions. The GTA’s housing market is influenced by factors like immigration, foreign investment, and local economic conditions, which could mitigate or amplify the impact of tariffs and other economic factors.
Conclusion
The new USA/Canada tariffs, combined with potential changes in interest rates and stock market performance, create a complex environment for the Canadian housing market. In Ontario, the impact could be significant, particularly if tariffs lead to higher construction costs or economic uncertainty. However, the housing market’s resilience will depend on a range of factors, including the BoC’s monetary policy, consumer confidence, and broader economic conditions. While there may be short-term challenges, the long-term outlook will depend on how these factors evolve and interact over time.
Want to sit down on a one-on-one and talk about the market feel free to connect with us. Fill out the form here: https://www.therizteam.com/contact
Tags: buyers, cambridge, for sale, Homes For Sale, housing, kitchener, kitchener for sale, kitchener real estate, kitchener-waterloo, kitchener-waterloo association of realtors, Market Update, real estate, rizsellskw, sales representative, Selling more homes, talk to us, tariffs, the riz team, waterloo, waterloo real estate, waterloo realtor
Posted in Enhance Your Home, Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Uncategorized, Waterloo Buyers, Waterloo Sellers | Comments Off on Impact of Tariffs on the Housing Market
Wednesday, June 5th, 2024
Waterloo Region Sees Dip in Home Sales Due to Sluggish Condo Market
“May saw a dip in the number of sales across all categories, with condo apartments experiencing the largest drop,” says Christal Moura, president of WRAR. “The Condo market also had the greatest supply level, posing a challenge for sellers, especially for units with one or fewer bedrooms, where the current inventory level exceeds buyer demand.”
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
WATERLOO REGION, ON (June 5, 2024) —In May, a total of 742 homes were sold via the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR). This represents a decrease of 8.1 per cent compared to the same period last year and a decline of 20.0 per cent compared to the average number of homes sold in the previous ten years for the same month.
“May saw a dip in the number of sales across all categories, with condo apartments experiencing the largest drop,” says Christal Moura, president of WRAR. “The Condo market also had the greatest supply level, posing a challenge for sellers, especially for units with one or fewer bedrooms, where the current inventory level exceeds buyer demand.”
Total residential sales in May included 467 detached (down 1.3 per cent from May 2023), and 134 townhouses (down 3.6 per cent). Sales also included 82 condominium units (down 34.4 per cent) and 59 semi-detached homes (down 13.2 per cent).
In May, the average sale price for all residential properties in Waterloo Region was $818,507. This represents a 0.3 per cent decrease compared to May 2023 and a 2.3 per cent increase compared to April 2024.
- The average price of a detached home was $943,859. This represents a 1.9 per cent decrease from May 2023 and an increase of 0.4 per cent compared to April 2024.
- The average sale price for a townhouse was $653,761. This represents a 6.1 per cent decrease from May 2023 and a decrease of 0.9 per cent compared to April 2024.
- The average sale price for an apartment-style condominium was $459,260. This represents a decrease of 5.6 per cent from May 2023 and a decrease of 5.6 per cent compared to April 2024.
- The average sale price for a semi was $699,780. This represents a decrease of 3.9 per cent compared to May 2023 and an increase of 5.1 per cent compared to April 2024.
“This spring, we are witnessing a significant increase in the availability of apartment-style condos, with a record high number of units on the market,” stated Moura. “At the same time, we are observing a shift in demand away from smaller-sized condo units, potentially influenced by the higher interest rates impacting investor market activity for this property type.”
There were 1,644 new listings added to the MLS® System in Waterloo Region last month, an increase of 28.9 per cent compared to May last year and a 15.8 per cent increase compared to the previous ten-year average for May.
The total number of homes available for sale in active status at the end of May was 1,741, an increase of 95.8 per cent compared to May of last year and 27.9 per cent above the previous ten-year average of 1,361 listings for May.
Market-wide inventory levels were up 93.8 per cent, with 3.1 months’ supply for all property types at the end of May. The property type that gained the most inventory was the condo apartment segment, which increased by 100 percent. That amounts to 6.0 months’ supply for condo apartments, 2.4 months for detached homes, and 3.6 months for Townhouses. The number of months of inventory represents the amount of time it would take to sell off current inventories at the current sales rate.
The average number of days to sell in May was 16, compared to 14 days in May 2023. The previous 5-year average is 15 days.
The President of WRAR emphasizes the importance of consulting a local REALTOR® when considering buying or selling property in the Waterloo Region. Their expertise can provide valuable insights into the current market conditions, enabling individuals to make well-informed decisions aligned with their goals and preferences.
WRAR cautions that average sale price information can help identify long-term trends but should not be to indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.
Tags: buyers, for sale, home sales, Homes For Sale, kitchener real estate, KW Market Update, Market Update, real estate, real estate market, riz jadavji, rizsellskw.com, Royal Lepage Wolle Realty, sales representative, the riz team, Waterloo Buyers, waterloo real estate, Waterloo Sellers
Posted in Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot May 2024
Thursday, April 4th, 2024
Waterloo Region Home Sales Sluggish in March, Prices Steady
Despite the challenging market conditions, the first quarter of 2024 saw an increase in home sales, marking an 8.0 per cent rise compared to the previous year. However, these figures still fall short of the first-quarter sales of the past decade.
“While home sales in Waterloo Region hit a record low for March in over two decades, we’re also witnessing a positive trend,” says Christal Moura, president of WRAR. Over the past three months, prices and activity have started to pick up, and I expect this momentum will continue into the spring.”
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
WATERLOO REGION, ON (April 4, 2024) —In March, a total of 596 homes were sold via the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR). This represents a decrease of 3.2% compared to the same period last year and a decline of 33.4% compared to the average number of homes sold in the previous 5 years for the same month.
Despite the challenging market conditions, the first quarter of 2024 saw an increase in home sales, marking an 8.0 per cent rise compared to the previous year. However, these figures still fall short of the first-quarter sales of the past decade.
“While home sales in Waterloo Region hit a record low for March in over two decades, we’re also witnessing a positive trend,” says Christal Moura, president of WRAR. Over the past three months, prices and activity have started to pick up, and I expect this momentum will continue into the spring.”
Total residential sales in March included 344 detached (down 3.9 per cent from March 2023), and 127 townhouses (down 0.8 per cent). Sales also included 86 condominium units (down 1.1 per cent) and 37 semi-detached homes (down 11.9 per cent).
In March, the average sale price for all residential properties in Waterloo Region was $806,279. This represents a 3.6 per cent increase compared to March 2023 and a 6.6 per cent increase compared to February 2024.
- The average price of a detached home was $954,342. This represents a 4.9 per cent increase from March 2023 and an increase of 7.3 per cent compared to February 2024.
- The average sale price for a townhouse was $667,810. This represents a 4.4 per cent increase from March 2023 and an increase of 6.0 per cent compared to February 2024.
- The average sale price for an apartment-style condominium was $483,085. This represents an increase of 0.3 per cent from March 2023 and an increase of 5.3 per cent compared to February 2024.
- The average sale price for a semi was $680,039. This represents a decrease of 2.9 per cent compared to March 2023 and an increase of 1.0 per cent compared to February 2024.
MLS® Home Price Index Benchmark Price
|
| |
Kitchener-Waterloo |
Cambridge |
| Benchmark Type: |
March 2024 |
Monthly % Change |
Yr./Yr. % Change |
March 2024 |
Monthly % Change |
Yr./Yr. % Change |
| Composite |
$740,900 |
1.6 |
0.0 |
$747,500 |
0.7 |
0.9 |
| Detached |
$853,800 |
1.5 |
1.3 |
$780,100 |
0.8 |
1.1 |
| Townhouse |
$614,900 |
2.3 |
1.3 |
$652,400 |
0.6 |
2.4 |
| Apartment |
$461,900 |
2.1 |
-0.7 |
$490,500 |
2.8 |
3.4 |
“Home prices have been gradually increasing since December, which is a typical trend,” explains Moura. “The rate and extent of further increases will depend on the willingness and patience of potential home buyers who have been waiting for lower interest rates before making their purchase. With the Bank of Canada not anticipated to make any rate changes before its June meeting, some potential home buyers may feel stuck in limbo.”
The president of WRAR recommends that anyone interested in buying or selling a property in Waterloo Region seek advice from a local REALTOR® regarding the current market conditions. This will enable them to make an informed decision that aligns with their goals and priorities.
There were 1,023 new listings added to the MLS® System in Waterloo Region last month, an increase of 18.7 per cent compared to March last year and a 15.9 per cent decrease compared to the previous ten-year average for March.
The total number of homes available for sale in active status at the end of March was 1,081 an increase of 54.0 per cent compared to March of last year and 1.1 per cent below the previous ten-year average of 1,093 listings for March.
At the end of March, there were 1.9 months of inventory, a 58.3 percent increase compared to last year and 18.8 percent above the previous 10-year average. The number of months of inventory represents how long it would take to sell off current inventories at the current sales rate.
The average number of days to sell in March was 19, the same number as March 2023. The previous 5-year average is 18 days.
These statistics provide a snapshot of the real estate market in the Waterloo Region in March, showing both positive and challenging aspects for buyers and sellers. WRAR encourages buyers to reach out to local Realtors for valuable insights about the current state of the local market and to receive tailored advice based on their specific needs.
View our HPI tool here to learn more: https://wrar.ca/hpi/
WRAR cautions that average sale price information can help identify long-term trends but should not be to indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.
Tags: for sale, Homes For Sale, Kitchener Buyers, Kitchener Homes, kitchener-waterloo, kitchener-waterloo association of realtors, KW Market Update, Market Update, real estate, Royal Lepage Wolle Realty, the riz team, waterloo for sale, waterloo real estate, waterloo realtor, Waterloo Sellers
Posted in Enhance Your Home, Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Uncategorized, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot March 2024
Tuesday, March 5th, 2024
Waterloo Region Home Sales Sluggish in February, Prices Steady
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
Tags: buyers, for sale, Homes For Sale, KW Market Update, Market Update, real estate, real estate market, realtor, riz jadavji, rizsellskw.com, Royal Lepage Wolle Realty, sales representative, the riz team, Waterloo Buyers, waterloo real estate, Waterloo Sellers
Posted in Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot February 2024
Tuesday, December 5th, 2023
Waterloo Region Home Sales Cool in November
This article will provide a comprehensive snapshot of the KW real estate market for October 2023.
“Last month, the number of homes sold followed their typical pattern of cooling to match the weather, but with consumer confidence continuing to drop, we saw sales slump to their lowest level for November in over a decade,” says Christal Moura, president of WRAR. “With many still waiting to see what happens with interest rates in the months to come, homes are taking a little longer to sell, there’s more inventory on the market, all contributing to sale prices levelling off.”
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
Tags: Homes For Sale, Kitchener Buyers, kitchener real estate, kitchener-waterloo, kitchener-waterloo association of realtors, KW Market Update, Market Update, rizsellskw.com, Royal Lepage Wolle Realty, the riz team, Waterloo Homes, Waterloo Sellers
Posted in Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot November 2023
Saturday, November 4th, 2023
Home Sales Picked up in October but Still Subdued
This article will provide a comprehensive snapshot of the KW real estate market for October 2023.
“Homes sales in the Waterloo Region were up over last October’s record low but are still subdued,” says Megan Bell, president of WRAR. “I breathed a sigh of relief last week when the Bank of Canada held its policy rate at 5 per cent, and I will be watching to see what the Bank of Canada does at their next scheduled announcement on December 6, 2023.”
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
Tags: buyers, Homes For Sale, kitchener-waterloo association of realtors, KW Market Update, realtor, Royal Lepage Wolle Realty, sales representative, the riz team, Waterloo Buyers, Waterloo Homes, waterloo real estate, Waterloo Sellers, www.rizsellskw.com
Posted in Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot October 2023
Wednesday, October 4th, 2023
Surge of New Listings in September Against Low Number of Sales
This article will provide a comprehensive snapshot of the KW real estate market for September 2023.
“The number of homes sold last month was very close to last year’s decade-low for the month of September,” says Megan Bell, president of WRAR. “At the same time, we had a record number of new listings for the month of September.”
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
“There was a significant surge of new listings in September, resulting in the largest number of homes being on the market since March 2016,” said Bell. “For buyers with the financing to be house hunting in September, they would have found more favourable conditions in terms of supply than we have seen in a while.”
At the same time, WRAR’s president points to the recent poll the association conducted, which shows over one-quarter of Waterloo Region residents are considering moving to a more affordable location.
“WRAR recently released a report highlighting that Waterloo region’s residents are struggling under the affordability crisis, with four in ten reporting that they live in housing that is unaffordable,” said Bell.
Local REALTORS® call for action to build more missing middle housing as nearly 4 in 10 (38%) residents report living in unaffordable homes.
There were 1,400 new listings added to the MLS® System in Waterloo Region last month, an increase of 52.3 per cent compared to September of last year and a 30.5 per cent increase compared to the previous ten-year average for September.
The total number of homes available for sale in active status at the end of September was 1,448, an increase of 48.8 per cent compared to September of last year and 9.5 per cent above the previous ten-year average of 1322 listings for September.
There were 2.6 months of inventory at the end of September, an 85.7 per cent increase compared to last year and 34.7 per cent above the previous 10-year average. The number of months of inventory represents how long it would take to sell off current inventories at the current sales rate.
The average number of days to sell in September was 18, compared to 23 days in September 2022. The previous 5-year average is 20 days.
With the next scheduled Bank of Canada interest rate announcement set for October 25, buyers might be on the sidelines, waiting to see what unfolds. WRAR understands that some buyers may be unsure about their next steps. That’s why we encourage these buyers to reach out to local Realtors who can provide them with valuable insights about the current state of the local market and cater to their specific needs.
View our HPI tool here to learn more: https://wrar.ca/hpi/
Tags: buyers, for sale, Homes For Sale, Kitchener Homes, kitchener real estate, kitchener-waterloo, kitchener-waterloo association of realtors, Market Update, riz jadavji, rizsellskw.com, Royal Lepage Wolle Realty, sales representative, the riz team, waterloo, Waterloo Buyers, Waterloo Homes, waterloo real estate, waterloo realtor, Waterloo Sellers
Posted in Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot September 2023
Thursday, August 3rd, 2023
Strong Listing Activity in July
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
Tags: buyers, for sale, home sales, Homes For Sale, kitchener for sale, kitchener real estate, kitchener realtor, Kitchener Sellers, kitchener-waterloo, kitchener-waterloo association of realtors, real estate, riz jadavji, Royal Lepage Wolle Realty, the riz team, TheRizTeam, waterloo, Waterloo Homes, waterloo real estate, waterloo realtor
Posted in Enhance Your Home, Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot July 2023
Thursday, July 6th, 2023
Waterloo Region Real Estate Market Shows Resilience With Increase in Home Sales and Average Prices
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
Tags: buyers, for sale, Homes For Sale, Kitchener Buyers, kitchener real estate, kitchener-waterloo, Market Update, real estate market, sales representative, sellers, the riz team, waterloo for sale, Waterloo Homes, Waterloo Sellers
Posted in Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot June 2023
Friday, June 2nd, 2023
Waterloo Region Buyer and Listing Activity Ramps Up In May
If you are considering to Sell your home or Buy a home in the next short while it would be highly beneficial for you to connect with one of our Team Agents at
Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation
Tags: Homes For Sale, kitchener, kitchener real estate, kitchener-waterloo, kitchener-waterloo association of realtors, KW Market Update, Market Update, riz jadavji, Royal Lepage Wolle Realty, sales representative, waterloo, Waterloo Homes, waterloo realtor, Waterloo Sellers
Posted in Kitchener Buyers, Kitchener Sellers, Market Stats, Market Update, Real Estate News, Realtor Tips, Waterloo Buyers, Waterloo Sellers | Comments Off on Kitchener Waterloo Market Snapshot May 2023
