Quebecers would wait for a further drop in the key rate before purchasing a property.
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This is what Geneviève Langevin, residential and commercial real estate broker at Royal LePage Altitude, believes.
Saturday, on LCN, she affirmed that buyers are rather patient.
They “know that there is going to be a fourth reduction in the key rate,” she said on the show Le Québec matin.
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Ms. Langevin explains that “people wait for another rate” before considering purchasing a property. This would therefore mean that the average price of a property would increase in Montreal for the third quarter.
The impact would be greater for the first buyer, she adds. The buyer could reconsider his indications depending on the increase in prices.
“Yes, he may remove certain criteria, but he may also find himself buying a little more in the suburbs of Montreal,” she says.
This is what would cause the price of properties to increase more pronounced outside the metropolis, estimates the broker.
Busy November
The month of November will be quite busy in the real estate market, according to Geneviève Lagevin.
In fact, a craze is already being felt, she admits.
According to the broker, it is in spring 2025 that the market will be “earlier in terms of real estate economic activity”.
To watch the interview with Geneviève Langevin, click on the video above.
