June was a challenging month across all of the markets we serve. When we combine the results of both of our companies we were down 3% compared to June 2023, considerably outperforming all of the real estate boards we trade under. One month does not a trend make, however our YTD numbers far exceed what is happening in our local markets.
The Canadian Real Estate Association (CREA) recently changed their forecast for 2024 from a 10.5% gain over 2023’s unit sales to a 6.1% increase. CREA went on to say it “anticipates a gradual rebound in the national housing market... We think that markets will be stronger in the back half of the year, as the economy holds up and more meaningful interest rate relief is delivered.”
RE/MAX Escarpment and Niagara have kept pace with CREA’s original forecast for the year, and exceeds their revised forecast by 33%, with our agents well ahead of our competition, outselling them by nearly 4.5 times.
