Is Canada’s Housing Market About to CRASH? Trends, Affordability & Interest Rates | 570 CityNews

Описание: Tracy Valko joins 570 CityNews – Ask the Experts to break down the latest Canadian housing market trends and what buyers and homeowners need to know in 2025.

From rising interest rates and mortgage renewal challenges to shifting regional dynamics and buyer’s market opportunities, this conversation dives deep into the realities of today’s real estate landscape. Tracy also shares practical home buying strategies, insights on affordability, and market predictions that could shape your next move.

🔑 Key Takeaways:

National average home price: $672,000 (↓2.7% from last month)
Sales activity: +3.8% month-over-month
Active listings: +10% year-over-year (driven by renewals)
Ontario’s prices remain above national average
Affordability strain: many spending more than they earn
Kitchener-Waterloo average: $735,000 (↓5.8%)
First-time buyer age rising to 35 years old
Homes taking 32 days on average to sell
Renewal surprises: banks pulling credit checks
Market stabilizing with potential rate drops ahead


⏱️ Chapters

00:00 - Current State of the Housing Market
03:03 - Regional Variations in Housing Prices
05:51 - Impact of Interest Rates on Affordability
08:47 - Challenges for First-Time Homebuyers
11:53 - The Role of Renewals in the Current Market
14:46 - Long-Term Perspectives on Homeownership
17:34 - Job Market Trends and Their Effects
20:46 - Future Predictions for the Housing Market
23:31 - Navigating Financial Strategies
26:36 - The Importance of Professional Guidance

📢 If you’re navigating the Canadian real estate market, whether as a buyer, seller, or homeowner preparing for a mortgage renewal, this episode is packed with insights you don’t want to miss.

#HousingMarket #RealEstateTrends #InterestRates