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@@angelovirone-v8c really good question that I'm going into more depth in the long form video. That's coming out soon. Overall city wide it's more of a buyers market, but getting busier. There's pockets that are much stronger more of a seller's market and others that are a very strong buyers market. Basically it's a mixed bag.

"Montreal is on the edge of a buyer's market" - 0:20

@@OmarosaCeleste64-d5c thanks for watching

Unlike what alot of people like to say online, a change in interest rates does not automatically equal a change in prices. Interest rates are one of many factors that impact home prices. There are many examples in just the past 20 years where rates have gone done along with home prices and vice versa. I have been on record multiple times saying that it's going to take more than a .25% cut here and there to really make a major impact on the market.

@@spawn11 we really shouldn't have as expensive of housing as we do

@@BaldPrairieRealEstate exactly. We want to see more detached affordable homes. Not these shoe boxes

@@spawn11 I agree. And the very same governments that preach affordability are the same governments adding 20-30% on to the cost of a new house in taxes.

@@BaldPrairieRealEstate I was checking Regina and Saskatoon man beautiful homes at decent price. My only concern is job market haha. For me I don't mind smaller city

@@spawn11 both Saskatoon and Regina have strong employment opportunities right now.

@@Merakiii1123 which video did I say that in?

@@Xander71267 what are the Realtors doing now?

@@ethimself5064 the Canada 5 year bond is your best measuring stick. Any site that tracks that works.

True capitalism would have less government intervention with a market that supply and demand could find a balance.

@@2john149 you are right, Calgary is not Toronto or Vancouver, it's better 😃.

80% of mortgage holders will renew at much higher rates? I'd like to see the source on that statement. As for the comment that this is the beginning of the biggest real estate crash the word has even seen. So how much are prices going to crash and when is this going to start?

@@fofal that's a really good question and one I wish I had the answer to. I suspect we will have a clearer picture once an election is called.

May affect Ottawa more to the downside when the conservatives predictably cut thousands of jobs from the federal government

@@charronfamilyconnect very possible for sure.

@@fofal why is that?

@@7966016 typical troll comment 🤡

​@BaldPrairieRealEstate For once, you are correct!😂

@@7966016 if I've been wrong so many times in the past I welcome you to point them out. I'll wait.

@@hashoes3294 that's been pretty consistent for the last number of years. There was something like 40,000 set to complete in 2024.

My clients are 70% first time home buyers, and I don't have any clients that flip houses.

@@stephenfermoyle4578 well there is a simple solution if you don't like what I have to say. Don't watch 🤷‍♂️

You are getting pretty desperate to get a zinger on me these days LOL. When did stating facts about a article specifically titled in a way to stoke fear become FOMO? Remember back in May when you were all upset about a title I used in a video? Guess that same logic doesn't apply anymore. 🤷‍♂️ And this isn't a Toronto market update video BTW. But let’s just pretend for a few minutes that was my goal. What benefit do I gain from FOMO in Calgary? Would I talk about record sales in Toronto? Yup I sure would and have. I had a whole video back in 2022 about how in Toronto home prices had overtaken Vancouver making Toronto Canada's most expensive real estate market.

I guess you didn't take the time to watch until 8:27 where I said I work for Royal LePage. 😂

You referred to ReMax at the beginning of the video. Those are the ReMax salesmen which I was referring to, not you. Have a good day, you Saskabush guy! 😛

@@zomgoose oh I thought you were saying I was a ReMax agent LOL 😆

@@BaldPrairieRealEstate No, I'm bearish and might do some light trolling but I would never stoop that low. C'mon, man!

@@zomgoose 🤣🤣🤣🤣🤣👍👍

Ya I think the condo market is going to be tough for a while now.

I agree it's going to be a tough market for condos for some time.

Prices dropped roughly 18% from the 2022 peak so it's already long since started. Now virtually all of that happened in 2022 as prices since then have essentially remained flat for two years in a row now.

'Long since started' 😅, folks more pain is coming. We have yet to see mass layoffs, buckle up!!

@@BaldPrairieRealEstate isn’t sales the worst in decades? Nothing is selling and job losses are mounting. Are we taking that into account

@@ant31891 of course we always just have to wait just a little longer for the crash right?

@@TC-td1vx in Toronto yes, mainly because condos aren't selling. Single family homes are a much different story.

20,000 units is a little on the lower end of things. I believe over 40,000 completed this year. But I agree there is alot of condo inventory completing, not so much with single family homes.

GTA down - GVRD down at least 4% +. Normal Canada: +/- 2%. How did you determine Edmonton and Saskatoon?

@@ethimself5064 both are on pace to set all time sales records for the year. Both are seeing prices up 7+% YoY with nothing I am seeing to change that by years end.

@@coolwater55 the price I am showing is the composite benchmark price. Yes single family homes will be more expensive. $800,000 would be considered well above "average" as would $1,300,000. Where are you seeing prices down from last year?

@@BaldPrairieRealEstate Lower mainland B.C. outlying areas.

@@BaldPrairieRealEstate I have followed quite closely since the houses went 2.5 to sometimes 3 times the assessment in less than 18 months. The Assessment authority took 2 years to catch up to the bidding war craziness. This past January new roll out has gone down in assessments. Plus so many new listings, and houses not selling fast, has resulted in many going just at assessment, but selling lower. The listings from last year that had to be relisted went down about 100,000 to 200,000. Some are still trying to cash in on that boom, but it is over. This fall and New Year will be telling what will happen. The listings unsold, many times go off market, to be listed as "new" next February, March. So that will be the tell. I do not think drop in interest rates will be sufficient to catch the challenges many homeowners who bought high will face. Lets hope I am wrong in some respects, because do not want to see people really lose. The other issue is CMHC Insurance is paid by the homeowner, but the banks benefit, so they have insurance if foreclosures will happen, so banks do not really care.

@@coolwater55 oh that is why I am confused. You posted this on my Edmonton video, so I thought you were referring to Edmonton.

@@BaldPrairieRealEstate Your prices are still very moderate from my view. I think a lot of people are moving to Alberta and seeing the benefit of the lower housing costs etc. But that of course will not account for all those sales. Just one factor in a sea of more ...

@@stephenn88 I am going into more depth in my long form video. August 2024 was 2nd best August all time. Not exactly slow. Slowing down is very relative.

@@BaldPrairieRealEstate cannot wait for your long video! Also glad to see the old style back for the short 😜

@@stephenn88 I really appreciate the feedback. Can't make better videos without it

@@charronfamilyconnect I don't think most people are affording a home on one income. Those days are long gone even in more affordable markets. I've shown many houses where there's an individual lock on each bedroom door and a "bedroom" under the stairs. It's something I'm surprised more municipalities are not cracking down on.

@@bc5810 that's very similar to what I've been hearing from agents in Vancouver. The wording was "the excess inventory was pretty low quality". The good stuff is selling very quick. Three months of declining pieces but basically sideways YoY. It's also fairly typical seasonality.

@@FamilyCheung-kc1pw how much is it going down?

@@BaldPrairieRealEstate Wait and see

@@FamilyCheung-kc1pw ok 🤷‍♂️

@@FamilyCheung-kc1pw Calgary cannot be more depressed by the liberal government

@@stephenn88 is it though?

@@stoptrudeau42 what's on the agenda?

@@BaldPrairieRealEstateeasy to look it up. It’s every where.

@@curtismah1261 I wish I had a better answer than they just ignore Saskatchewan in general. I think everyone is sleeping on Saskatoon right now.

@@FatihaArt funny you ask that! I am literally just working on my Ottawa market update right now! I'll have the video out hopefully by Monday for you.

@@donsilverson9927 great question. The BoC doesn't have controlling home prices as part of their mandate. So in theory it shouldn't be part of their concern. When it comes to rates I think we need a few more drops before we see a meaningful impact on the market. But with the sentiment being rates will continue to drop, I'm having more conversations with buyers about getting back in the market.

@@BaldPrairieRealEstate Controlling home prices may not be part of the mandate. But that doesn’t mean it doesn’t effectively happen. Direct correlation between interest rates and home prices. I’m not saying it’s the causation, but it’s sure correlated to the point where it’s a very effective indicator. What do you think?

@@donsilverson9927 I've actually talked many times before arguing that interest rates and prices are not directly correlated. In more credit dependant markets like Toronto and Vancouver it's far more impactful yes. But you can look back only a decade and see interest rates dropping and so too with prices in places like the prairies. I've seen people say things like the 1% 10% rule when it comes to interest rates and price. Well we just had a 5%+ increase in interest rates and prices didn't drop 50%. Circling back yes if rates drop significantly it could also push prices back up. But the BoC is focused on inflation not real estate prices. In their meeting last month they specifically said that they were not concerned about dropping rates pushing prices back up.

​@@BaldPrairieRealEstate To suggest that interest rates and prices are not correlated because of some regional outliers in parts of the country with low volume is a little 'off' in my opinion. By and far, there is a direct correlation between home prices and interest rates. I'm sure the BoC has said what you mentioned, but just because it's not their intent to affect home prices, doesn't mean their actions don't affect home prices. They lower interest rates, all assets, goods will go up in price. What will be scary is when prices all goods/assets go up and they raise the interest rates to combat inflation. It'll be then that they'll have to pick their poison, either low interest rates with major inflation, or raise rates so high that it desolates the economy.

@@donsilverson9927 calling cities like Calgary, Edmonton and Winnipeg regional outliers when they are cities with over 1M people and represent the 4th, 6th and 7th largest cities in Canada is a little off the mark. More homes sold last year in Calgary than Vancouver, while Edmonton and Winnipeg were not far behind. I will never say that interest rates don't matter. They are part of the equation but not the only variable. If the economy continues to slow and we see massive job losses it doesn't matter if rates are 0%. If you don't have a job, you are not buying a house.

@@NOT-A-Monolith Edmonton has had a very strong market this year. I've got a market update coming out soon talking about Edmonton b

@@jmc8076 yes NB has been very hot recently too.

Edmonton huge also

@@NOT-A-Monolith yes it has.

@@jakenelson1658 I have Alopecia

@@curtismah1261 what rules? It's my channel, I get to decide what I want to cover and how I do it? But explain how the content of this video is political? Your comment last week was factually incorrect and I called you on it. Clearly you didn't like that because you didn't respond.

@@BaldPrairieRealEstate You're literally quoting the Maxime Bernier wing nut internet statement because he couldn't win anything or make a plan to make this country better. Being more mad at "people kind" than Scott Moe running a stop sign and killing someone shows the ethics of current conservative base .

@@lootangshellhouse2506 when have I ever said buy a house?

How am I lying to people?

We are all being replaced.

@@huskavarnaband ask Zillow how well that worked for them LOL.

@@rossb7288 update September 2025. Still nothing has happened lol