There is more good news for our already improving housing market!

The Bank of Canada just announced a further .5% interest rate reduction and sales in November jumped by almost 50% in every sector of the market. New listings increased by a much smaller margin again last month, creating tighter market conditions and increased prices.

Larger ticket homes (detached and semis) are making a quicker recovery — possibly due to those buyers needing less help with financing. It may not be until early spring '25 when we see condo buyers jump back into the market. I suspect that the spring market will be busy with more competition and solid price increases.

I hope everyone has a very happy holiday season and stay tuned for some very exciting news! - Andrew.