Market Update: A Steady Recovery in Real Estate – According to Royal LePage’s analysis, the recent four cuts to the bank rate are beginning to have a noticeable impact on the housing market. Over the past two years, we’ve experienced a market correction following the pandemic’s rapid price growth. While home prices have remained stable, sales volumes have dropped to levels not seen since 2008, leading to an increase in housing demand—particularly among millennials and new immigrants. Mississauga House Price Report October 2024
This demand, which has been building on the sidelines, is now starting to re-enter the market as buyers gain confidence. However, as Phil Soper, CEO of Royal LePage, notes, growth this fall is expected to be steady but modest, with a sharper increase likely in Spring 2025. In fact, we may see the typical spring market activity begin earlier, toward the end of winter, signaling a strong start to the 2025 real estate season.
Stay tuned for further updates as the market continues to evolve.
Scott Brubacher
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Home Price Index (HPI) since the pandemic – Mississauga vs GTA
Mississauga House Price Report October 2024
