In the summer of 2022 lending rates in Canada started to rise from almost zero to 6% or more. Then rates began cutting, and we're in the 4-5% range in summer of 2025. The real estate market died off, with little buyer activity in summer of 2022 and all of 2023 had a range of erratic behaviors, as people tried to 'time the market' with selling. Politics and economic factors continued to give instability and anxiety to consumers. Prices slowly began dropping as inventory amounts increased, and competition on properties stopped. By spring of 2025 it was a 'buyer's market' in many areas of Ontario, including waterfront properties in Muskoka! Buyers are making moves in 2025 and people who need to sell are selling. 2026 may see further price reductions, but it may also bring a more balanced market, and eventually a sellers market again --- housing starts are down to almost nothing, and new homes are NOT being built. We still have a housing shortage in Ontario, and that can't be changed quickly or easily!
