When Is the Right Time to Purchase a Home?

August 23, 2022

Less than a minute

Source: Christopher Liew, CTV News, August 23, 2022

The housing market is in a constant state of flux, depending on overall economic conditions, federal interest rates, the cost of building materials, and more.

The rapid housing price growth that we saw earlier in the year is finally beginning to cool down in Canada. The MLS Home Price Index (HPI) shows a decreased overall price of 1.7% from June to July 2022.

Aside from the housing market itself, a recession could be looming in the near future, which could drive the cost of real estate further down. This has many Canadians questioning whether or not it’s the right time to purchase real estate.

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