The 2024 real estate market has been a rollercoaster! ???? In this video, Michael Prior, broker at The Prior Group and head coach at Revel Realty, takes you through the highs, lows, and predictions for the year ahead.

This year brought more inventory, slower sales, and price drops not seen in over a decade, driven by factors like high interest rates and shifting consumer confidence. While the Bank of Canada’s recent rate cuts have sparked some optimism, we’re still far from the peaks of 2021.

Looking ahead, CREA (Canadian Real Estate Association) predicts a 10% increase in home sales for 2025 but only a modest 2.5% rise in prices. If you’ve been holding out for a big rebound, next year might not be the time—but it could be an excellent opportunity for realistic sellers!

Have questions about the market or what’s next? Reach out to Michael or anyone at The Prior Group. ????

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