Which factors impacted the real estate market in 2023? This week we're discussing some of the factors that were at play last year and what we are expecting to see in 2024.
Sean and Kyle kick off S10E4 of the REAL Collective Podcast discussing the most recent interest rate announcement. Kyle emphasizes the importance of comprehending the context and the true implications of the Bank of Canada rate for the average consumer. The hosts then delve into the impact of rate announcements on consumer confidence and how it affected the real estate market last year. The conversation covers the inverse relationship between interest rates and home sale prices. Our hosts also incorporate notable statistics from 2023 shared by Steve Tabrizi, COO of RE/MAX Hallmark in a recent presentation. (Visit https://www.youtube.com/live/BIWizIleMpQ?si=dgKXU_ssPJAfmZ0Z to watch Steve's presentation "Annual Housing Market Report").
At half time, Sean talks about his recent personal experience with the Magic Mind productivity shot. In order to take advantage of the REAL Collective discount, visit: https://magicmind.com/JANrealcollective and use the discount code REALCOLLECTIVE20
In the second half we dive into a deeper discussion on current Canadian sentiment and our systems and infrastructure. Our hosts also discuss some interesting work/life changes to come out of the pandemic and some personal experiences.
If you are considering buying, selling, or investing, don't miss out on another extremely valuable episode of the REAL Collective Podcast. Keep it REAL Collective!
To access our Complimentary Resources (SOLD Price Search, Seller Guide, Buyer Guide & Home Evaluation) visit: https://realcollective.ca/exclusive-resources/
Are you buying or selling? Book a meeting with Sean or Kyle today!
Sean: https://calendly.com/seanrealcollective
Kyle: https://calendly.com/kmmortgage/phone-connect
Magic Mind Discount Offer:
https://magicmind.com/JANrealcollective
Use the discount code REALCOLLECTIVE20
You can also follow us here:
Instagram: https://www.instagram.com/real.collective.inc
Facebook: https://www.facebook.com/realcollective.ca
TikTok: https://www.tiktok.com/@realcollective
LinkedIn: https://www.linkedin.com/company/real-collective-inc
Website: https://www.realcollective.ca
#realcollective #podcast #ottawa #magicmind #realestate #canada
Intro (0:00)
Recent interest rate announcement and projections (1:35)
Kyle gives context to the interest rate announcement (2:17)
How will those decreases affect fixed rates? (3:22)
The impact on consumer confidence (5:08)
Why you should widen your perspective (6:00)
Inverse correlation between sales price and interest rates (6:30)
Marry the payment, date the rate (7:30)
Many investors couldn’t close their deals at the end of 2023 (8:45)
Why did 21,000 put their house up for sale and only 12,000 sell last year? (10:56)
It comes down to the question - why are you selling your house? (12:30)
Pent up demand? (14:40)
Half-Time with our sponsor Magic Mind (15:50)
Second half (18:56)
Do we have broken systems in Canada? (19:19)
Where’s the accountability? (23:50)
Canadians moving abroad (27:27)
Changes that have come out of the pandemic (31:50)
Outro (33:35)