According to Zoocasa Fall is the best year for Canadians to purchase or sell real estate, according to Zoocasa. This comes after a worldwide pandemic, variable interest rates, and changing inflation.

Interest Rate Drops: the Bank of Canada's recent fall in the prime rate is beneficial for both buyers and sellers and also made mortgage rates more approachable.

Price Stability: The steady state of home prices in locations such as Ottawa has given purchasers greater predictability and relieved fears of staccato price swings.

Increased Inventory: More properties are being listed in cities like Ottawa, providing clients with more opportunities and also slowing down price increases.

Outlook for both sellers and buyers:

First-moment Homebuyers: More properties are available due to lower borrowing costs, now is a good moment for new clients to the housing market.

Sellers: Due to lower loan rates and maybe more demand the property values higher for sellers.

Area Patterns:

Vancouver: In Vancouver, the average price of a property has ablated, which has attracted more purchasers.

Calgary: The market has seen a notable increase in new listings, and house prices have been climbing gradually

Conclusion:

According to Zoocasa, there are exceptional prospects for buyers and sellers in the Canadian real estate market in the fall of 2024. It might be the perfect moment to buy a new house or sell your existing property, depending on your needs.