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Mortgage 101 - Recap of 2024 Real Estate Market Challenges
Manage episode 446128948 series 3484554
Indhold leveret af Podstarter and Clinton Wilkins Mortgage Team. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Podstarter and Clinton Wilkins Mortgage Team eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
In early 2024, the Ontario real estate market slowed significantly, while Nova Scotia's affordability stood out with an average home price of $500,000 in Halifax. Building costs and labour have surged due to inflation, affecting both new construction and renovations. First-time homebuyers are increasingly opting for starter homes, often in need of repairs. Atlantic Canadians are particularly burdened by debt, with 70% expressing concern about repayment. Despite high interest rates, there's cautious optimism about potential rate reductions, with predictions of a 200 basis point reduction by 2025. The housing market remains a seller's market, with a need for a more diverse inventory.
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