The 2022 Real Estate roller coaster isn’t over yet! As rates continue to increase, so does our lack of predictability for what the new year will bring. Inflationary pressures have been much stronger than anticipated, with still more rate increases scheduled. The prevailing sentiment is that the Canadian Economy will likely enter a recession by the end of 2022 and start recovering in the second half of 2023. Mortgage renewal concerns are heating up, especially for those that did not lock into low rates in the last few years. Homeowners with variable mortgages may start hitting “trigger rates” and have their payments increase. It is important to have a knowledgeable mortgage specialist review each situation carefully and explain everything thoroughly. Many are wondering and asking if prices will dip more... everything depends on the built-up Buyer demand and if-and-when these Buyers will come back to the table. We have felt a slight pick-up in activity, primarily in the lower ranges in the past few weeks. It is our prediction that prices will be relatively flat this winter and next year will likely start to climb at a more normal pace.

The fact remains, prices are down about 25% from the peak in February, and there are some great deals out there! The market is especially favouring move-up families and the sale of property condition is back in full force. Buyers in many situations can get in all the conditions they need to protect themselves. Investors with healthy down payments are also starting to resurface since the rental market is way up and some are even cash-flowing again. We will certainly stay on top of this each month and bring you our latest feelings on the market. As always if you have any questions or know anyone looking for real estate services please reach out!

Emily & Joe Barry

Alicia joined our team in 2021 as our Deals Coordinator & Operations Manager. Her background in administration combined with her strong customer service and sales skills, not to mention her bubbly personality, truly made her the perfect choice! She dove head first into learning all the ins and outs of the real estate world to create strong systems and manage all the team transactions. She is the glue that holds The Barry Team together! Creating new workflows and implementing fresh ideas is Alicia’s superpower. She is also the creative face behind the newly created Barry Team IG Admin page (check it out on Instagram!) Alicia also puts together our famous monthly newsletters, keeps us all accountable, and is super tech-savvy. We couldn’t live without Alicia!

On October 15^th Barry Team members Konrad Fasula and Charlie Plante participated in the Walk A Mile In Her Shoes Event, in support of Gillian’s Place. We could not be prouder of these two guys for raising funds for and helping to bring awareness to domestic violence in our community and as a whole. As a team, we attended to cheer on the boys as they completed their walk in their best heels and we must say … some of them are ready for the runway! The event raised more than $120,000 which will be used to support the needs of women and children in our local communities. Donations will be collected until October 31st - please use the following link should you like to donate to this very worthy cause. 

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