The Spring Market has officially arrived, and as we look back to the start of the year, we can expect to see a busy season ahead.

The Bank of Canada held its policy rate at 5% during their recent meeting. This is the fifth consecutive month of interest rate holds. Market experts and economists expected this announcement and many say the BOCs tightening program has officially ended. Some economists predict rate cuts to begin as early as June of this year.

The Niagara Association of Realtors reports “pretty good size increases” last month in terms of selling price, sales, and new listings. There were 519 sales in February, compared to 357 in January. The benchmark price was also up by half a percent month-over-month to $619,600. These numbers come as a surprise, as many local experts were expecting too see February’s numbers align with January’s slow start.

Spring market is showing early signs of buyer confidence returning to the housing industry. With lots of inventory to choose from, strategic placement of a sellers property will be the key to success. Plan early, price sharp, and market aggressively.

Do you agree or do you think we’re headed in another direction? LET US KNOW!