The topic of Real Estate typically comes up in our conversations on a daily basis. It’s always something on everyones mind and because we are Toronto Realtor’s, we of course love to answer anyone’s questions.

One of the questions we get asked quite often is from buyers who want to know if now is a good or bad time to get into the real estate market.

Is it a good time to buy real estate?

It’s a great time to purchase a property!

  • With the average price down in the GTA 14% and some parts nearly 20%, there has been a definite shift from the beginning of 2022.
  • Interest rates are higher but there are some amazing opportunities to negotiate a good deal. Rates will come down again in the near future.
  • The math can work in your favour if you compare the price you purchase now over the rate change over time. Remember, the interest rate bump is a short term increase to curb inflation.
  • Bond yields (used to determine fixed rates) are starting to come down which will take some pressure off the housing market.

Unemployment is at an all time low and we are seeing record level immigration and population growth. Combine that with low inventory and the crop of buyer’s that are waiting on the sidelines, the market could potentially rapidly increase again in 2023. A good rule of thumb is to remember that you can’t time the market and that you are buying and selling in the same market.

In our professional opinion, if there was ever a good time to get into the real estate market, now is the time!

Are you curious about getting into the Toronto real estate market? Book a quick meeting with us right here to learn more about your options!