🏡📉 **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.

🌟 **Exciting News for Variable-Rate Borrowers!** 🌟

The Bank of Canada has announced a 25-basis-point cut to its overnight target rate, bringing it to 4.75%—the first cut in over four years! This reduction is expected to lower the prime rate to 6.95%, translating into savings for many of you on variable-rate mortgages and HELOCs. 📉💸

🏠📈 Exciting News from the Canadian Housing Market! 📉🏡

The latest report from the Canadian Real Estate Association (CREA) paints a fascinating picture of our current housing landscape. 🇨🇦 Despite a slight dip in home sales, there's been a surge in new listings, creating the "most balanced" market conditions we've seen since before the pandemic hit. 📊✨