Montreal Real Estate Market Update | May 2023

The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for Montreal in the month of May 2023. In today’s video, we discuss exactly what those statistics are and what they mean.
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[@SamA-ep9go]

Hey Josh, great video.
I would like your advice. For a first-time homebuyer, given the rates and the prices on the market, is it best to wait till 2024 to think about buying to get the most bang for your buck? What are some factors to consider? Thanks

[@joshuamazzaferro]

Hey, thanks for watching! Although interest rates are high, now can be a good time to buy because there are less active buyers, which means there is less competition and a better opportunity to negotiate. If you wait for rates to fall like many buyers are doing, once they are low enough and buyers become more confident again, buyer competition will increase and that will then skyrocket home prices.
Interest rates can potentially come down in the next couple of years and you can enjoy lower rates, however the initial purchase price you pay for the home will always stay the same. If you want to discuss more, send me a message at [e-mail]

[@sasazamami]

The USA is expected to increase its interest rates at least two more times. Do you expect that to have a impact on rather Canada will increase its interest rates before the end of the year. Can you do a video for 2023 /2024 the top 5-8 neighbour hoods to invest in the Montreal area.

[@joshuamazzaferro]

Hey, as of now, I don't believe there will be many more rates hikes, hopefully none at all! I can't be sure though.
I have plans to make a future video as you suggested. Thanks for watching!

[@drake7433]

'Promo sm' 😇