The real estate market presents a mixed picture. Inventory levels have slightly increased, and sales have slowed, but many buyers are waiting for further interest rate cuts. As inflation fell below the 2% target in August, the Bank of Canada has been gradually reducing rates, creating a potential window of opportunity for buyers. Mississauga House Price Report September 2024

In Mississauga, both the Detached and Condo Home Price Index (HPI) have stayed relatively stable over the past few months (refer to the accompanying HPI Price chart). However, despite stable prices, the local market still struggles to provide enough housing to meet buyer demand.

This scenario presents a unique opportunity for buyers to take advantage of softening prices and lower borrowing costs. The Toronto Real Estate Board expects sales activity to rise in the coming months as reduced interest rates fuel demand. As inventory is absorbed, house prices may start to climb once again.

For buyers, now might be the ideal time to act before the market gains momentum.

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