What’s Really Happening in the Market This Month?
If you’ve been wondering whether now is a good time to buy, refinance, or renew your mortgage you’re not alone. As we move through summer, the Canadian housing market continues to shift in meaningful ways. Here are a few key things to keep in mind if you’re planning your next move.
Alberta is Growing Fast – Could That Shift Demand?
Yes, national home prices are down 3.4% year-over-year—but that number hides the real story. Canada is not one market. While some cities are cooling, others are holding strong—or even growing.
📍 What this means for you: Before you buy or sell, it’s essential to understand your local market. Averages don’t tell the whole truth, but working with an expert mortgage broker can.
Construction is Slowing – Fewer Homes on the Horizon?
While resale listings are holding steady for now, new home construction is slowing—especially for condos and single-family homes. If this trend continues, we may face a housing shortage later this year or in 2026. This could lead to fewer choices and increased competition for buyers.
📌 What You Need to Know:
Don’t wait too long if you're ready to buy. With potential inventory shortages ahead, getting into the market sooner may give you more options and less bidding pressure.
Affordability Is Getting Better (Slowly!)
Good news: Housing affordability has improved for six straight quarters. Lower interest rates and rising wages are giving more Canadians a chance to qualify for a mortgage. While it’s still tough—especially in big cities—the trend is moving in the right direction.
📌 What You Need to Know:
If high interest rates held you back last year, now’s the time to revisit your numbers. You may qualify for more than you think, especially if your income has grown or debt has decreased.
Home Sales Are Rising Again
In May, Canadian home sales rose 3.6%, and Ontario saw a 9.6% jump—the strongest growth since October 2023. This shows that buyer confidence is returning, and more people are actively looking for homes.
📌 What You Need to Know:
The market is heating up again. If you're a serious buyer, it’s a smart move to get a rate hold or secure mortgage pre-approval now to stay competitive as more buyers enter the market.
What Should You Do Next?
Whether you’re a first-time homebuyer, renewing your mortgage, or just beginning to explore your options—now is the time to plan ahead. With affordability improving, inventory tightening, and regional shifts underway, a customized mortgage strategy can save you both time and money.
At Cashin Mortgages, we help you navigate market changes with confidence. Our team works with major banks, alternative lenders, and private solutions to find the right mortgage fit for your situation.
📞 Need advice? We’ve got you covered.
Let’s talk about your goals and make sure you’re ready for what’s ahead.
