If interest rates drop, will London home prices increase? Most likely not, as we are currently on the edge of a balanced real estate market slightly above a buyer’s market!
I, for one, can state what the real estate market is today, but next week, next month? Motivated buyers or sellers will do what they want to do, regardless of the market.
As more homeowner mortgages come up for renewal, more homes may come on the market, and for buyers waiting for interest rates to drop, there is the market! However, more homes on the market end up being a buyer’s market, with more buyers, a seller’s market.
Fence sitting in a real estate indecision matter usually results in a proctological splinter in your finances!
A London home price increase concurrent with a monthly inflation rate of 2.5 to 3% can be expected. Of course, there will be outliers, but as usual, the sky is not falling for real estate in London, Ontario.
The tariff threats by our neighbours to the south have created uncertainty in the market. We Canadians are strong, and this may be patriotic defiance on my part, “I would rather die standing on my feet than dying on my knees!”
I refuse to join the fear-mongering rhetoric. I always see challenges or obstacles as an opportunity to improve, change, or overcome.
Amor fati!
Latin for a state of mind where one not only accepts fate but actively loves it, viewing all experiences as valuable and necessary.
