Market Update: Home Sales Down in May - But There's Good News Ahead!

May saw a slight dip in home sales, continuing a soft spring season with sales down 0.6% from April and 5.9% from last year. Higher borrowing costs and Bank of Canada uncertainty kept many buyers on the sidelines. However, new listings are on the rise, offering more options for prospective buyers.

**Key Points:**

- Home sales are 13% below the 10-year average.

- New listings increased by 0.5% from April.

- Average national home price is down 4% year-over-year to $699,117.

But here's the bright spot: Analysts expect June to see improved activity thanks to the Bank of Canada’s recent rate cut, which is boosting buyer confidence.

**Looking to Buy or Refinance? Now’s the Time!**

With more homes on the market and lower rates on the horizon, it’s an excellent time to explore your mortgage options. At Campbell Mortgages, we’re here to help you navigate these changing conditions and find the best rates for your needs.

Don’t wait! Contact Campbell Mortgages today to discuss how you can take advantage of the current market trends. Whether you're buying your first home, looking to refinance, or need expert advice, we've got you covered.