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BoC cuts by 50 bps, signals more gradualapproach to follow
On December 11, 2024, the Bank of Canada (BoC) reduced its key policy rate by 50 basis points, bringing it to 3.25%. This marks the second consecutive half-percentage-point cut, following a similar reduction in October, cumulatively amounting to a 175-basis-point decrease since June. The decision aims to stimulate economic growth amid weaker-than-expected GDP figures and…
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November Home Sales in Waterloo Region Up Over Last Year
In November 2024, home sales in the Waterloo Region saw a significant year-over-year increase, with 539 homes sold, representing a 21.1% rise compared to November 2023. However, this figure was down 13.1% compared to the average number of sales for the same month over the past decade. The market is now experiencing more balanced conditions,…
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Canada’s housing market ends the fall season on an upswing
Lower interest rates are increasingly converting large pent-up demand for housing into homebuying transactions.Most major markets saw rises in resales and prices between October and November, adding to gains realized the previous month.The buildup of inventories this year has facilitated the resale market upswing.Price pressures remain tame for the most part though there are notable…
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Canada’s unemployment rate rose again in November 2024
In November, Canada’s unemployment rate rose to 6.8%, up from 6.5% in October, signaling a shift in the labor market. Although employment increased by 51,000 jobs, the rise in the unemployment rate was driven by a growing labor force and a rise in the participation rate, particularly among youth and new market entrants. This suggests…
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Canada per-capita GDP declined again in Q3
The Canadian economy continues to slow, with per-person GDP falling for the sixth straight quarter, despite some signs of recovery in areas like consumer spending and residential investment. This slowdown means buyers and sellers could see shifting market conditions: The good news? Lower interest rates expected in December could bring more activity to the market,…
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Home Sales in the Waterloo Region Increased in October
WATERLOO REGION, ON (November 4, 2024) —In October, a total of 604 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 7.1 per cent increase compared to the same period last year and a decline of 14.2 per cent compared to…