What the HOWELL is Going On? April 16th, 2025 Update
In this week’s update, the Bank of Canada has held the overnight rate steady at 2.75%, the first time it hasn’t changed the rate since kicking off the easing cycle in June. So far, rates have been cut by a total of 225 basis points, landing right in the middle of the Bank’s estimated neutral range (2.25%–3.25%).
In its announcement, the BoC noted that the economy is showing signs of slowing: - Job growth has paused - Consumer & business spending are down - Housing activity is softening - Some inventory buildup ahead of possible tariffs
Trade war concerns are also hitting buyer confidence. Worries about U.S. tariffs are causing many buyers to pause their home search, leading to: - A 12% drop in resale activity across Canada since January - A 4.8% dip just from February to March - Active listings at a 5-year high (This slowdown is mainly affecting Southern Ontario and BC.)
What’s happening in the local real estate market? Even though it’s still a buyer’s market, where only about 3% of listings are selling in the first 30 days, we are still seeing Well-priced homes are getting multiple offers, seeing biding wars. Sellers and agents are getting smart with pricing. The key? Price right from the start and be ready to move when the right opportunity comes along.
Local Market Updates 📍 Burlington: In Burlington, active listings continue to rise alongside a slight increase in sales with just under four months' worth of supply. The area remains in a buyer’s market with about a third of the homes on the market are selling, and those that do are typically moving in under three weeks.
📍 Hamilton: In Hamilton, inventory is also climbing, with over 2,000 active listings now on the market. However, there’s been a small dip in the number of sales, pushing the months of supply up to 4.5, a slight increase from last week. Like Burlington, Hamilton continues to lean strongly toward a buyer’s market.
📍 Oakville: Over in Oakville, both active listings and sales are slightly up, but the market still holds over four months of supply. Across all property types, it remains a strong buyer’s market, with plenty of options available for those looking to purchase.
What the HOWELL is Going On? April 16th, 2025 Update
In this week’s update, the Bank of Canada has held the overnight rate steady at 2.75%, the first time it hasn’t changed the rate since kicking off the easing cycle in June. So far, rates have been cut by a total of 225 basis points, landing right in the middle of the Bank’s estimated neutral range (2.25%–3.25%).
In its announcement, the BoC noted that the economy is showing signs of slowing:
- Job growth has paused
- Consumer & business spending are down
- Housing activity is softening
- Some inventory buildup ahead of possible tariffs
Trade war concerns are also hitting buyer confidence. Worries about U.S. tariffs are causing many buyers to pause their home search, leading to:
- A 12% drop in resale activity across Canada since January
- A 4.8% dip just from February to March
- Active listings at a 5-year high (This slowdown is mainly affecting Southern Ontario and BC.)
What’s happening in the local real estate market?
Even though it’s still a buyer’s market, where only about 3% of listings are selling in the first 30 days, we are still seeing Well-priced homes are getting multiple offers, seeing biding wars. Sellers and agents are getting smart with pricing. The key? Price right from the start and be ready to move when the right opportunity comes along.
Local Market Updates
📍 Burlington:
In Burlington, active listings continue to rise alongside a slight increase in sales with just under four months' worth of supply. The area remains in a buyer’s market with about a third of the homes on the market are selling, and those that do are typically moving in under three weeks.
📍 Hamilton:
In Hamilton, inventory is also climbing, with over 2,000 active listings now on the market. However, there’s been a small dip in the number of sales, pushing the months of supply up to 4.5, a slight increase from last week. Like Burlington, Hamilton continues to lean strongly toward a buyer’s market.
📍 Oakville:
Over in Oakville, both active listings and sales are slightly up, but the market still holds over four months of supply. Across all property types, it remains a strong buyer’s market, with plenty of options available for those looking to purchase.
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