10 Updates about the Kitchener-Waterloo Real Estate Market || @movingtokitchenerwaterloo Kitchener-Waterloo Real Estate Market Update #RealEstateUpdate #realestatemarket #KitchenerWaterlooRealEstateMarket #RealEstateMarketupdate #kwrealestate
Welcome back to our Kitchener-Waterloo real estate market update for September 2024! In today's video, we dive deep into the latest trends, insights, and predictions that are shaping the dynamic KW real estate landscape. Whether you're a buyer, seller, or investor, this video is packed with valuable information to help you make informed decisions. Here are 10 Updates about the Kitchener-Waterloo Real Estate Market
Market Overview: The average home price in KW increased by 0.3% year-over-year as of May 2024, reaching $800,187.
Monthly Fluctuations: Despite an overall increase, there was a slight 0.8% dip in home prices in May.
Sales Volume: Home sales decreased by 15% in 2023, but early 2024 showed signs of increased activity.
Market Balance: KW is moving towards a balanced market in 2024, shifting from the previous buyer's market.
Interest Rates: The Bank of Canada has maintained a hold on interest rates, with RBC predicting three rate drops in 2024.
Housing Supply: New housing construction is expected to decline in 2024, with potential recovery in 2025.
Rental Market: Rental vacancies remain low, with high demand for two-bedroom apartments.
Population Growth: International migration and the influx of students continue to drive demand for housing.
Market Drivers: KW's tech sector, remote work opportunities, and strong economic performance are key market influences.
Future Predictions: Home prices are expected to rise steadily, with potential increases in Q2 2024 if interest rates decrease.
Stay informed and make the best decisions in this ever-changing market. If you found this video helpful, don't forget to like, subscribe, and share. Thanks for watching, and see you in the next update!
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🔵 About Me 🔵
What’s up guys! I’m Adam and my goal is to help 1000 people attain financial freedom by learning real estate investing. These videos are designed to educate viewers so that they are one step closer to execution.
Looking forward to working with the action-takers among you!
DISCLAIMER:
My videos are for educational purposes only and merely cite my own personal research. In order to make the best decision that suits your own needs, you must conduct your own research and seek professional advice.
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