Association anticipates a gradual rebound
Latest Royal LePage house price survey shows “tepid” market response to quarter-point cut
Respondents expressed concerns about inflation, income levels and a potential recession
More buyers are expected to enter the market as borrowing costs begin to decrease
Compared with year ago, sales up 10.1% in the month
Inflation, higher interest rates add to the financial challenges
March home sales, average price also up from a year ago
Affordability, cost of living still weighing on buyers, even as rate cuts appear imminent
Declining mortgage rates, strong population growth will help spur a rebound in sales and prices
Bureau also suggested allowing uninsured mortgage borrowers to switch banks without undergoing a stress test