As we step into March, all eyes are on the Bank of Canada’s upcoming interest rate decision on March 12th. While most experts predict that rates will hold steady, some economists anticipate that we could see another small rate decrease. With rates already on a downward trend for the past several months, buyer activity is picking up, and we expect a busy spring market ahead.
For sellers, this is the perfect time to prepare. As more buyers enter the market, well-presented homes are drawing strong interest. Making strategic updates and listing early in the season can help sellers take advantage of lower inventory before competition rises. Additionally, ongoing trade tensions between the U.S. and Canada could factor into economic policy decisions, potentially changing future interest rate trends.
Buyers should be aware that competition may increase in certain segments of the market. With interest rates more favorable than they’ve been in a while, acting sooner rather than later may help secure a home before demand peaks.
Whether you’re buying, selling, or just keeping an eye on the market, I’m here to provide insights and connect you with the right resources. Let me know how I can help!