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The real estate market is currently in a period of decline and consumer confidence is low. Prices were up in September and October, however, the “dead cat bounce” phenomenon suggests that the market will continue to decline in the next 6 months.
The Bank of Canada has increased interest rates by another 50 basis points, leaving many real estate deal hunters with limited time to take advantage of current opportunities.
While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages.
In this Market Commentary video, Ehsan discusses the potential effects of a “dead cat bounce” on the market in 2023, a term he first introduced in our previous video.
