Market Snapshot December 2023

Updated on: December 4, 2023

Good news!
1. The inflation continues to come down, therefore it is unlikely for interest rates to go up in the near future.
2. Homes are becoming more affordable, with the slight decrease in the median price in Region.

Things to highlight on this month report:

* The median price for a home in the Region of Waterloo went down from $726K to $703K.
* The inflation rate went down from 3.8% to 3.1% in the last report.
* The decrease in inflation makes it less likely for the Prime Rate to go up.
* Even though the Prime Rate hasn’t changed, we still saw a slight decrease in the fixed-interest-rates.
* The days inventory went up, however the actual number of homes for sale has come down, this is due to the seasonal behavior of the Real Estate market, for this same reason, the inventory will most likely continue to come down during the month of December.

Stay tuned for the next update in January.
Feel free to contact us if you have questions.
Have a great month!

(*) Stats source: Waterloo Region Association of REALTORS®

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