Date Posted: May 24, 2022
As we proceed through 2022, we continue to see more proof that the market is slowing down. Especially throughout the pandemic we saw a massive spike in house prices, home sales and interest rates. Now, we can see the climb in house prices is slowing down, and we are seeing more houses staying on the market for longer.
Even though interest rates are still rising, the Bank of Canada prime rate is still less than it was two years ago. Comparing now with the past shows that we are slowly resuming a normal market.
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