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

At the core of Kari's professional ethos is a dedicated focus on delivering exceptional client experiences, encapsulated by her corporate philosophy: "Your property is my priority."

Having navigated 12 relocations across four countries, Kari is well-acquainted with the challenges associated with buying, selling, and moving properties. She wholeheartedly commits to comprehending her clients' needs throughout the entire real estate process, ensuring a seamless transition.

With a discerning eye for some of the Province’s most notable properties, she revels in the challenge of marketing the extraordinary while consistently striving to provide all clients with the utmost attention and expertise. Kari has achieved a couple of record-breaking sales, demonstrating an unwavering commitment to excellence.

Leveraging her background in corporate communications within the mineral resource sector and her formal training as a fashion designer, Kari approaches real estate with a blend of creativity and adept problem-solving. Kari's infectious positive outlook contributes to her success in building meaningful connections.

Having relocated to Nova Scotia from Victoria, BC, in 2007 with her husband and twin daughters, Kari attests that the province has captured her heart. Residing in Newport Landing, her family has discovered their forever home in a charming historic riverside property.

http://www.karimacleod.com
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