I’m writing you on St. Patrick’s Day!  No green beer, but it’s getting greener outside! And, the wait seems to be over … first-time buyers, in particular, were hesitant or noticeably absent last year but now that the market has settled – prices and interest rates have stabilized – they are eager to jump back in!  This is a very good sign.  And not just for first-time buyers, but for Buyers and Sellers alike, it’s looking like everyone is feeling more secure thanks to the stability we are seeing.  

Sales typically pick up in Spring, and the “experts” say the number of sales will likely resemble 2019 levels, NOT THE PANDEMIC HIGHS OF 2021 AND 2022.  One thing to note – over-leveraged investors are now sitting on the sidelines while first-time buyers have returned, lured by a resurgence of new listings and the promise of another “possible” interest rate cut.  However, even at these rates, with the moderated pricing we are seeing, the rates are easier for buyers to handle.  Less of our buyers are “waiting” for interest rates to drop as they begin to “do the math” and realize that the difference in a small drop in interest rate may not make as much of a difference as purchasing a home at a much more competitive price than they may have expected a year or 2 ago.  Here’s where a Realtor can help with the math. It’s worth looking at!

I believe we are returning to more historical norms – not what we saw in 2021 and 2022 where people came out in droves, but there is a confidence I am noticing; and we are even seeing some competitive offer situations, once again, if a home is “priced to sell” and desirable to more than one buyer.  

Considering we are less than ONE WEEK AWAY from the FIRST DAY OF SPRING … it’s time to GET MOVING!  And news from our friends in Toronto is that their prices should increase by about 6% this year, and what happens in the GTA will certainly trickle down our way as they have more to spend -- and what better place to spend it than in the beautiful REGION of NIAGARA?  

Please contact me anytime for FREE advice, a FREE consultation or any questions you might have about the market or real estate in general.  I am just a phone call away!  

Lynn Fee