2024: A "Perfect Storm" in Canadian Real Estate

A perfect storm is brewing in Canadian Real Estate, with 20 year high mortgage rates and 2.2m mortgage borrowers set to renew their fixed rate mortgages in 2024 and 2025 all at the same time as a looming recession.

In this month's Surrey Report, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty discusses all of the market variables brewing as we get ready to head into 2024.

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Benchmark Prices: (Surrey Combined) (+/- yoy):

Detached = $1,627,100 (+6.0%)
Townhomes = $867,200 (+5.9%)
Condos = $535,000 (+4.5%)

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Book time with Steve

call or text: 604-549-5828
email: steve@krproperties.ca

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