This month, we look back on a January that was almost identical to January 2021 in terms of houses sold, but the key difference is that the average price was much higher.
In early February, the Guelph real estate market started to build inventory, for a variety of reasons including interest rate hikes, an uneasy stock market and sellers noticing higher prices around them.
Interest rate hikes are likely to start in March, with a forecast of a total of four in 2021 totalling 1%. These hikes only impact those who are on a variable rate mortgage, not fixed rates. For more on the pros and cons of each, you can read our blog: Variable vs fixed rate mortgage
Tips for first time home buyers in 2022
If you’re considering buying your first house, there are some things you should know! Read our blog on first time buyer tips: first time home buyers
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For more information, get in touch with Beth and Ryan Waller, Guelph Realtors with Home Group Realty or call us at 226 780 0202.