June Interest Rate Drop Effect On Ottawa Real Estate Market

I know the interest rates didn't drop much, only a quarter of a point.

But there certainly is a sense of optimism.

We had our team meeting this morning and we said, how are the open houses over the weekend?

What's the vibe of buyers and sellers out there?

And there was a real sense of almost relief, definite consumer confidence and a little bit of a surge in activity, a surge in activity in our open houses surge in activity of people looking at listings and was noticeable within 48 hours of the announcement, which is almost seven days ago.

But it's a sense of hope.

It's a sense of, you know, the interest rates have started to drop now, they should continue.

And a sense of listen, everybody wants that feeling of home.

Everybody wants to be a part of that.

That's where the dreams of a lot of families and individuals begin it with that sense of home.

And we're optimistic that the summer months be a little more active than normal and that this year will be a kind of a back-end loaded year.

So we'll wait to see, see what happens.

But the vibe is positive in Ottawa and we're seeing activity.

My name is Greg Hamre from RE/MAX Affiliates in Ottawa and the Hamre Real Estate Team.

It couldn't have come early enough for me.

I'm excited to see what's happening in our market and I'm excited to see families moving in and out.

Hope to see you soon.

Take care.

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