<h1> </h1>Hamilton, ON (May 6, 2025)—In April, sales in the Hamilton, Burlington, Haldimand County, and Niagara North market areas slowed to 805 units. This decline in sales represents a 26 per cent decrease compared to last April and a 46 per cent decrease below typical figures reported for April. “Uncertainty surrounding tariffs continues to weigh on the local housing market,” says Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area. “The influx of new listings and slower sales has caused inventory levels to climb, and we are seeing that impact on home prices to varying degrees throughout local communities. With both the provincial and federal elections behind us, we are hopeful that renewed government focus on housing could provide additional support for buyers in the coming months, improving affordability and restoring buyer confidence, paving the way toward more balanced market conditions.” In April, 2,043 new listings were added to the market, causing the sales-to-new listings ratio to drop to 39 per cent. The increase in new listings and slower sales have escalated inventory levels, driving up the months of supply to four months—the highest figure for the month of April since 2009. Rising supply choices and weaker demand continue to weigh on home prices. In April, the unadjusted benchmark price was $803,700, down nearly one per cent from the previous month and over six per cent lower than last year’s levels. Prices are lower than last year across the region, with the most significant year-over-year monthly decline occurring in Burlington. <a href="https://767y6qfbb.cc.rs6.net/tn.jsp?f=001gmQoqGZnqEJa9heJ1wHNCVepZzGpUzh0QQFSgzYbf-LJQgeKji_3FFnBrt5JQG9imyXtl4Ep53hrUw9oLEVv13rhE41kXCakp0QdmTMRtrVTiVObD878cVDDpNV9HHHUJK0s8bYYu1Ql0BQ8TTiDBh8lXsr_hVk4zQrYTg9_V7keVGDeI0n6uCf8QVubwd78AN6EEE9HcJrh2liZjuktpYF2aqOb5_frhTZauZ2mUtauPGviFUaTeLoZjVBpG53FmP1cLN_gI0RszhVuJz2VGFWdDXQtYgjI&amp;c=Wcd1iuXhnA_eGqnZELmwT1jgV41bFfE_B1uHRPVK5NqnVu191MqPqw==&amp;ch=-thqkN4Axx5kB2oI8X4DvquUH_Y8oAzybk-qXu94rNbyTwBiezgENg==">View All Hamilton-Burlington Area Monthly Stats Package</a>

Hamilton-Burlington Sales Well Below Typical April Levels

Bank of Canada cuts interest rates by another 25 basis points

<a href="https://financialpost.com/real-estate/five-reasons-home-prices-will-rise-2025">Five reasons why home prices will rise 10% in 2025 | Financial Post</a>

Five reasons why home prices will rise 10% in 2025 |

<h1>Home sales improved as 2024 wrapped up</h1>Jan 3, 2025| <a href="https://www.rahb.ca/category/press-releases/">Press Releases</a>, <a href="https://www.rahb.ca/category/uncategorized/">Uncategorized</a><img src="https://s1.cdn.rahb.ca/rahbca/wp-content/uploads/2025/01/DECEMBERstats.png"><h1>Price growth moderated in 2024, signaling a positive shift for homebuyers</h1>Hamilton, ON (January 3, 2025) – The higher interest rate environment and economic uncertainty weighed on housing market activity in 2024. Slower sales throughout the spring season nearly offset the improvements that occurred later in the year as interest rates eased. Sales in 2024 totaled 10,086, similar to 2023 levels but 27 per cent below long-term trends.“As interest rates have begun to trend downward, some homebuyers are taking advantage of the opportunity to enter the market while there is still a good selection of homes available. Although the pace of return has been gradual, the improving rates have sparked renewed interest, and many potential purchasers are starting to feel more confident in making their move,” says Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area.At the same time, we continued to see more new listings coming onto the market, resulting in inventory gains. Over 3,000 units were available throughout the majority of the year. Supply improved across all property types and most price ranges, including lower-priced products.Improved supply choice is something that we have seen since 2023 and has weighed on home prices. However, price adjustments should be put in perspective as the declines over the past few years have been relative to the pandemic high. Even with a nearly one per cent decline in 2024, on an annual basis, the average benchmark price is still consistent with levels seen in 2021 and nine per cent higher than the 2020 average annual benchmark price of $651,425.

Home sales improved as 2024 wrapped up

Homebuyers jumping back into housing market before busy spring

Conservative Party Leader, <a href="https://www.bloomberg.com/news/articles/2024-10-28/trudeau-rival-pledges-to-axe-federal-sales-tax-on-many-new-homes?srnd=homepage-canada">Pierre Poilievre says he will axe Canada’s 5% national sales tax</a> on new construction homes under $1 million if he is elected. Poilievre says this decision would save Canadians about $40,000 on a $800,000 home. Poilievre also wrote a letter to provincial leaders urging them to eliminate the provincial sales tax on new homes under $1 million.

Tax changes maybe on the way

By  The Canadian PressTORONTO - A new report says that while fewer young Canadians own a home compared with three years ago, a majority of millennials and Gen Z adults still plan to purchase one in the next five years.Scotiabank’s 2024 housing poll says the number of Canadians between 18 and 34 who own a home has declined to 26 per cent today from 47 per cent in 2021.Around 29 per cent of people in that age group are now living with parents or family, up from around one fifth of those surveyed three years ago.ARTICLE CONTINUES BELOW But despite housing market challenges, the survey says 58 per cent of non-homeowners aged 18 to 43 in Canada are still determined to purchase a home within the next five years.It says there is a “confidence gap” among young Canadians when it comes to the homebuying process, with 63 per cent of Gen Z and 54 per cent of millennials indicating they want clearer information and support from financial institutions.Over half of Canadians in that cohort say the current economic environment is negatively impacting their finances to the point they must delay their home-buying plans.This report by The Canadian Press was first published Oct. 29, 2024.

Business Fewer young Canadians own homes but majority planning to buy within five years: poll

Fewer young Canadians own homes but majority planning to buy within five years: poll

<img src="https://files.constantcontact.com/cb37cd16901/f50597a0-f459-47b4-820f-136b1e15f2d2.png?rdr=true"> <img src="https://imgssl.constantcontact.com/letters/images/1101116784221/S.gif"> Improved sales impact supplySales rise for the second month in a row Hamilton, ON (November 5, 2024) – Home sales improved over last month and last year's levels for the second consecutive month. While October sales are still lower than long-term trends for the month, this represents a significant improvement. "Many potential purchasers were happy to sit on the sidelines until there was more certainty regarding interest rate movements. The recent rounds of cuts seem to be the incentive needed for some to enter the market. While sales are still lower than historical trends, we expect to see changes as the Bank of Canada makes further cuts to interest rates, making purchasing more attainable for hopeful buyers," says Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area. The rise in sales relative to new listings supported a modest monthly decline in inventory levels, which aligns with typical seasonal behavior. Nonetheless, the adjustment caused the months-of-supply to fall below four months, representing a shift from buyer's market conditions to a more balanced market. While this shift is likely welcome news for many sellers, it is important to note that supply levels remain elevated compared to sales in the region, and it will take time to work through the inventory. Despite the adjustment, prices still eased, albeit at a slower pace. In October, the unadjusted benchmark price was $820,800, a decline over last month and less than one per cent lower than levels reported last year.  <a href="https://767y6qfbb.cc.rs6.net/tn.jsp?f=001Hg-BqHbLef_VwadY_uZXALMJWWsEpF5yCmRgH5pY_mQDLQZNKFXq5yroHosG0TQ-N-7KOcBvhkl-1t6FjW3XwX0ykM3VNF6Ph2XMCGyywGrMe992LnGJovzjXuPvXPCv9iTGeyI6IkkBkkc4UZUzlQWutV_Nax747ebirleiJ6RuyInygnuLEc2_Rl7HGN1b6AJOxX65ghTcTcrBTbbLryctksAmwKEDYUwWzZW5ohjg8FLXzBL28adbgcgcRvcFLUJ2S5hBD2yOb3ezunLCYceeEF_qnIbRIyJ-DT0E228=&amp;c=Fsdx-VD5owvbaT11M59SiMud0AF4JTbb0XGho2OI8O0-6kFi4JOM_A==&amp;ch=c_dCvzWL7UHITJwSaiZRRLUm3WzVwC0fFv8rI4fMgChMpduSdw6xlw==">View All Hamilton-Burlington Area Monthly Stats Package</a> <a href="https://767y6qfbb.cc.rs6.net/tn.jsp?f=001Hg-BqHbLef_VwadY_uZXALMJWWsEpF5yCmRgH5pY_mQDLQZNKFXq5yroHosG0TQ-fWO0fITmEKB9MaNvyn8js7y-T-GbfHFZ8KqFJVTnovHSWgq6hKo2u-OVL78ocOU9AA-jM8f5PvC7Qwu90Ul1YzkSn3XRf5jhivzqU52BaNmJRfCMbecZlspZmztVgJ8og1WyNXrOnK-5J7Ub9mVPN_QRp6TOVnddrUMUntmYyTKUq1P4QlNy9RuxKTvCyRFRfh0hcJjOxvHQDhPFY1d4NA==&amp;c=Fsdx-VD5owvbaT11M59SiMud0AF4JTbb0XGho2OI8O0-6kFi4JOM_A==&amp;ch=c_dCvzWL7UHITJwSaiZRRLUm3WzVwC0fFv8rI4fMgChMpduSdw6xlw==">View Hamilton Region Monthly Stats Package</a> <a href="https://767y6qfbb.cc.rs6.net/tn.jsp?f=001Hg-BqHbLef_VwadY_uZXALMJWWsEpF5yCmRgH5pY_mQDLQZNKFXq5yroHosG0TQ-Eo-OcH_Wjbme4MN7PnKnkrzl8tRTCMOaDZ4m0ALriWXEDabqG2DwsduAN7VLuhhyp17MPzSexnWB7Y9FpDrdg4oP9rBgkjocJFfcoVqWFaXQJH2bpy4HYONmvB91NAHcdS8wrB_d7NY9zr_1M_CAqlUYfyeU58tgqdSmfuxG14ibpkoafZc8dbAapduCHgYD_CTVWbFhO4_3GTqVca-MrQ==&amp;c=Fsdx-VD5owvbaT11M59SiMud0AF4JTbb0XGho2OI8O0-6kFi4JOM_A==&amp;ch=c_dCvzWL7UHITJwSaiZRRLUm3WzVwC0fFv8rI4fMgChMpduSdw6xlw==">View Burlington Region Monthly Stats Package</a> <a href="https://767y6qfbb.cc.rs6.net/tn.jsp?f=001Hg-BqHbLef_VwadY_uZXALMJWWsEpF5yCmRgH5pY_mQDLQZNKFXq5yroHosG0TQ-71lMVNGmfZ5MBFQOvSuspqAjztN5V_xkDBA4B0ja01ijqOmiotoIv0X2Tuu_q5LnZU6XbA5tVfCd4yu8HIksPw2zvgjgmbKN6USBrFQTdkHpVgrJi0vNaJlfKQk7hjwjxIHqyaej3PISz0qHR0Uzx1S8nSj5-B8ioeP9K56pwyrNIhR9dpfZ8El3kRzhLlr6S7PY5fJaGNB-npM254ngQivpc9l17EBD&amp;c=Fsdx-VD5owvbaT11M59SiMud0AF4JTbb0XGho2OI8O0-6kFi4JOM_A==&amp;ch=c_dCvzWL7UHITJwSaiZRRLUm3WzVwC0fFv8rI4fMgChMpduSdw6xlw==">View Haldimand Region Monthly Stats Package</a> <a href="https://767y6qfbb.cc.rs6.net/tn.jsp?f=001Hg-BqHbLef_VwadY_uZXALMJWWsEpF5yCmRgH5pY_mQDLQZNKFXq5yroHosG0TQ-JjscwoR5lKgSC3bJwRCRV5D4h_YiWG2g0wl2weajjO9Xrqc3HuNvgWbAMBkNdh3-s31kMXW9hEqen9bGSVJ8_OGSVAnH_6EjUojvYUrrJBWU4c4Iw-g-KfnG3ioHVvZwVpxGq7NuENmZWOap19n_YRqAhS8Gn5fS_maPGF0ZXk6fYoA3nlAYfKR2nmXbaUG2ubRchQwxtoMtHu2uRFc0hQ==&amp;c=Fsdx-VD5owvbaT11M59SiMud0AF4JTbb0XGho2OI8O0-6kFi4JOM_A==&amp;ch=c_dCvzWL7UHITJwSaiZRRLUm3WzVwC0fFv8rI4fMgChMpduSdw6xlw==">View Niagara North Stats Package</a> For more information, please contact: Crystal HendersonManager, Government Relations <a href="mailto:amanda.stringer@cornerstone.inc">crystal.henderson@cornerstone.inc</a> Amanda StringerGovernment Relations + Communications Specialist<a href="mailto:amanda.stringer@cornerstone.inc">amanda.stringer@cornerstone.inc</a> <a href="https://767y6qfbb.cc.rs6.net/tn.jsp?f=001Hg-BqHbLef_VwadY_uZXALMJWWsEpF5yCmRgH5pY_mQDLQZNKFXq55KYT-4sMsauYDTCShxbmsyhcZzs-F9_faHGjzXLs9f4D_DC6IL_M5Cd7abAoIcu153Dck1cGGQZoAceOqx6IGtt8atsfR22uIBCLyBTqbSq&amp;c=Fsdx-VD5owvbaT11M59SiMud0AF4JTbb0XGho2OI8O0-6kFi4JOM_A==&amp;ch=c_dCvzWL7UHITJwSaiZRRLUm3WzVwC0fFv8rI4fMgChMpduSdw6xlw==">cornerstone.inc</a> <a 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Improved sales impact supply

Bank of Canada Governor, Tiff Macklem recently spoke at an event explaining the central bank’s aggressive rate cut decision last week. Macklem says the decision to cut rates more than a quarter point “makes sense” given how aggressive the hiking cycle was. He also said the bank will need to “discover” the true neutral rate (the theoretical interest rate that neither stimulates nor restricts the economy). Policymakers estimate the neutral rate to be around 2.25-3.25%, however, Macklem acknowledged that policy decisions are made on a case-by-case basis, not on a predetermined path. (<a href="https://stjeanrealty.us14.list-manage.com/track/click?u=b8c9330af6663be8dd87ef568&amp;id=42e8d6cd86&amp;e=403a384555">Bloomberg</a>)

Rate Cuts

Here, you'll find answers to all of your questions about the current real estate market in the Hamilton/Burlington area. In hopes of better representing my current clients and keeping you well-informed, this site will provide you with the tools you need to make educated decisions about your future transactions. With over 30 years of experience, I understand the role that a realtor plays in the transitional period of the lives of buyers and sellers, and how important it is to make the process smooth and stress-free for my clients.I am proud to say that a large percentage of my business comes from referrals. Feel free to browse through the testimonials below and scroll down for more information about my experience and approach. Revisit this site for regular updates and local real estate tips!&nbsp;<h4>Accomplishments</h4><ul><li>Graduate of University of Guelph - BA, Political Studies and Marketing</li><li>Licensed REALTOR® since 1994</li><li>Designation and active Member of I.R.E.S. (International Real Estate Specialist), allowing for marketing of listed properties to a worldwide audience of Buyers</li><li>Winner of the RE/MAX Platinum Award 2016 to 2020, an award recognizing Outstanding Service</li><li>Inducted into the RE/MAX Hall of Fame for superior sales achievement in the field of Real Estate in 2011</li></ul><h4>Areas of Specialization</h4><ul><li>Residential and Commercial Real Estate&nbsp;</li></ul>Mark is an award-winning Realtor with a passion for providing professional, honest Real Estate expertise to his valued Buyer and Seller clients. He is a highly skilled negotiator who has serviced the Hamilton/Burlington area since 1994, meticulously examining market trends in your area to give you the upper hand in negotiating contracts. He has experience working with investor clients from around the globe, allowing for desired yields to be accomplished professionally and with enhanced efficiency. Over the years, Mark has presented his clients with unique financing options that suit their individual needs within all aspects of Real Estate investment. Keenly aware of the "bottom line," whether it's price, interest rates, or commissions, he tailors the process to each individual and provides specialized representation to all of his clients. Connected to a worldwide network of realtors, Mark is able to arrange for you to be represented by top producing Realtors should you choose to move outside of the Hamilton/Burlington area.With an ongoing commitment to enhancing his knowledge, Mark consistently invests in furthering his education, ensuring that he has the most up-to-date information about the trade and current markets. He has an extensive background in marketing, international trade and negotiation. Mark is humbled to be rewarded with the trust and gratitude of past clients, with most of his business originating from returning clients and their referrals.

Mark Zizzo