Wednesday Jun 08th, 2022
Bank of Canada rate hikes, including the 50-basis point hike on June 1, are impacting home buyers in the short term. There is now a psychological aspect where potential buyers are waiting for a bottom in price. This will likely continue through the summer.
As Ontario’s housing market seemingly begins to cool, a common pattern seen among major Ontario cities is the significantly lower transaction numbers compared to the same month last year.