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REAL ESTATE NEWS AND UPDATES

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A resurgence of activity in Canada’s housing market is expected this spring, with sidelined buyers banking on a drop in interest rates. High Interest rate caused home buyers to push their home buying plans out by about 6 months during the second half of 2023. Canadians have continued to adjust to higher borrowing costs. With Interest rates reaching a tipping point, we could see a brisk spring market. 2023 Fourth quarter highlights:

  • Aggregate home price in greater regions of Toronto, Montreal and Vancouver posted gains of 5.1%, 4.1% and 2.7% year over year, respectively, in final quarter of 2023 

  • Calgary recorded highest year over year price appreciation (10.7%)

  • 81% of regional markets posted a quarter-over-quarter decline 

  • Approximately 2.2 million mortgages in Canada will be renewing over the next two years.

Read the full 2024 Royal Lepage Market Forecast

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Here are some ideas to help you kickstart the new year with improvements and goals for your home:

1. Organize and Declutter: Start the new year by decluttering your home and getting rid of unnecessary items. Create a system for organizing your belongings to maintain a tidy and stress-free living space.

2. Regular Maintenance: Make a resolution to stay on top of regular home maintenance tasks. Create a schedule for checking your HVAC system, cleaning gutters, changing air filters, and inspecting appliances to ensure they are in good working condition.

3. Energy Efficiency: Consider making your home more energy-efficient in the coming year. Switch to LED light bulbs, install a programmable thermostat, and seal any air leaks to reduce energy consumption and save on utility bills.

4. Enhance Curb Appeal: Boost the curb appeal of your home by investing in landscaping and exterior improvements. Plant new flowers, trim overgrown bushes, and repaint your front door to create a welcoming entrance.

5....

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