Consumers need to see more interest rate movement before major effects are felt.
This summertime reprieve presents the perfect opportunity to ready ourselves for a busy fall.

“If you build it, they will come.” For those of us who remember that famous movie line, this year’s anticipation around interest rate cuts had many feeling that same sense of eager anticipation – if you cut it, they will come. The sales figures for the month of June, however, tell a rather different story. The Bank of Canada’s first decrease to the overnight lending rate in four years has done little to boost sales or incite those who have been on the sidelines to return to the market.

While we have seen some improvement in consumer mindset, it will likely take another rate change to see notable improvement in the number of transactions and price appreciation. According to TRREB president Jennifer Pearce, "The Bank of Canada’s rate cut last month provided some initial relief for homeowners and homebuyers.” However, she concluded that additional cuts will be needed before we see a marked increase in activity.

The glass-half-full perspective, however, is that the recent rate cut is decidedly good news as it signals the first of what many predict will be a series of cuts that will further stimulate the market. The next Bank of Canada announcement is slated for July 24th and most experts are saying another cut is inevitable.

Market conditions notwithstanding, summer is typically a quieter period. This year, however, we may see a slow and steady roll into the fall market, which is expected to be more active. Elevated inventory levels should help mitigate against a rapid increase in prices, providing a balanced and potentially advantageous environment for buyers as we head towards the end of the year.

Despite the quieter market, our team remains dedicated and hard at work, ensuring optimal results for our clients. We are still actively putting deals together and encourage you to take advantage of the current conditions to transact this summer.

Ending on a positive note, TRREB forecasts that home prices will not only stabilize, but even see a slight increase by the end of the year and buyers will begin to feel the effects of reduced borrowing costs, making it a favourable time to enter the market.

In the meantime, though, let’s take the opportunity to enjoy all that summer has to offer and re-set before the busy fall season ahead. Until then, if you have questions about your home, your neighbourhood, or how best to strategize for fall, our team is always here to help.

Central Toronto Market Spotlight

As we move into the summer months, the Central Toronto market continues to evolve with notable trends and shifts. The number of transactions has decreased compared with last year, and prices across all inventory categories have seen modest dips. However, the  increase in new and active listings presents exciting opportunities for buyers. This summer offers a window to capitalize on current conditions, with more inventory to choose from and potential negotiating power, ahead of the expected busy fall market. For sellers, early preparation and strategic positioning are key to standing out. If you’re strategizing for the fall market, please reach out – we would love to hear from you.

Come see this season's fresh selection of colourful robes, pyjamas, pillows and tablecloths from Imli. They will also be launching their newest collection of Indian block print bedding and quilts, just in time for cottage season. See you there!

Don't miss the latest exhibit at The Lobby from our new Artist in Residence, Hayley Axelrad, on now through August. Hayley is a Toronto-based contemporary figurative artist, renowned for her unique combination of expressionist brushwork and striking use of color.

Join us on Tuesday, July 16th, to meet with one of Toronto's top-selling real estate teams and explore exciting career opportunities. We are looking for skilled professionals to join our Branch Administrative Team.

Whitney Linen will be hosting a chic pop-up at The Lobby (patio) on July 17th and 24th. Featuring locally produced 100% linen wear from Whitney Westwood, this pop-up is the perfect opportunity to find the ideal addition to your summer wardrobe. Come and explore the elegant, breathable linen clothing that's perfect for sunny days and summer events.

Beck Taxi has been an institution in the city of Toronto for decades – and for Kristine Hubbard, granddaughter of its founder, for generations. In episode three of Beyond the Blueprints, available now, listen in as Kristine chats with Cailey about the art of the pivot, sharing her innovative journey of launching the Beck Taxi app, even before Uber arrived in Toronto and how it revolutionized the local market.

Join us every Thursday at The Lobby Patio from 2:00PM to 7:00PM for our weekly farmer’s market. Delight in the wonders of a farm-to-table experience in the heart of midtown Toronto, thanks to the incredible seasonal selections of organic produce from Loco Field Farms.

Final units remaining: Do not miss the opportunity to secure your spot at 1414 Bayview, with units starting at $1M. These 44 meticulously designed residences are on the cusp of completion, ready to redefine Leaside living across eight storeys. With a variety of thoughtful floorplans tailored to meet the demands of modern urban life, set against the serene backdrop of one of Toronto's best neighbourhoods, 1414 Bayview is a testament to luxury living in Leaside.

Contact us today to schedule your exclusive showing and secure your suite at pre-occupancy pricing. Step into your future home this summer.

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