February’s Issue of The Current

Written By Kari MacLeod

On January 24th, the Bank of Canada held the overnight rate at 5%. The Bank now forecasts inflation rates in most advanced economies are expected to come slowly down, reaching central bank targets in 2025. This is good news for interest rates.

In Canada, the economy has stalled since the middle of 2023 and growth will likely remain close to zero through the first quarter of 2024. With weak growth, supply has caught up with demand and the economy now looks to be operating in modest excess supply. Inflation ended the year at 3.4%. Shelter costs remain the biggest contributor to the above-target inflation. The Bank expects inflation to remain close to 3% during the first half of this year before gradually easing, returning to the 2% target in 2025. The Bank’s next overnight rate target meeting is March 6, 2024.

As the economy is finding balance, so is the real estate market where we are seeing a more balanced market. Sales in January were up 8.8% from a year ago, with 531 homes sold this past month. The average sales price was up 13% and and listings are up 30% across the Province.

I am looking forward to the promise of spring as we navigate the remainder of winter and wish you a February filled with love, laughter, and meaningful moments.

Kindly,

Kari

Government Extends Ban on Foreign Buying of Canadian Housing

The federal government is extending its ban on foreign home purchasing in Canada, Finance Minister Chrystia Freeland announced in a release Sunday.

The rule, which was first announced in 2022, will now be extended until the beginning of 2027. It bans foreign nationals and commercial enterprises from buying residential property in Canada, with exceptions for some international students, refugee claimants and temporary workers. READ MORE

Dine Around

Foodies rejoice! For all of February enjoy special menus from all of your favourite restaurants in Halifax during this celebration of culinary innovation. LEARN MORE

To read February’s Newsletter in its entirety, please click the below link.

February 2024 The Current

Kari MacLeod

Kari brings a considered, global perspective to real estate, shaped by experience, design sensibility, and a deep respect for exceptional property. Known for her calm professionalism and meticulous approach, she represents homes with the same care and discernment she brings to advising her clients; thoughtfully, strategically, and always with long-term value in mind.

Having navigated twelve relocations across four countries, Kari has a firsthand understanding of the emotional and logistical complexities of buying and selling property. This lived experience allows her to anticipate challenges before they arise and to guide clients through each stage of the process with clarity, confidence, and discretion.

With a keen eye for Nova Scotia’s most distinctive homes, Kari specializes in properties of architectural, historical, and lifestyle significance, while delivering the same high level of attention

and expertise to every client she represents. Her career includes multiple record-breaking sales, reflecting both strategic acumen and an unwavering commitment to excellence.

Kari’s background in corporate communications, combined with formal training in fashion design, informs her ability to balance structure with creativity, resulting in refined presentation, strong negotiation skills, and a highly effective problem-solving mindset.

Now based in Newport Landing, Kari led the thoughtful renovation of a historic 1700s riverside home on the Avon River, acting as design lead and coordinating all trades. This hands-on experience has further strengthened her authority in evaluating homes, advising on renovation potential, and guiding clients through the opportunities and complexities of restoration and building.

http://www.karimacleod.com
Previous

Allow me to introduce my family.
Next

Staging Your Home: The Details That Make a Difference