January did not start with a bang, at least in some sectors. Overall, 3,847 properties were reported sold, almost 8 percent fewer than the 4,177 properties reported sold in January of 2024. Coming into 2025 expectations were high for a strong start, especially since the Federal government had increased the cap on insured mortgages to $1.5 million (December 15, 2024). Theoretically this would enable buyers with smaller down payments to enter the market. It didn’t happen, at least in January. No doubt the political turmoil – US tariffs, Federal Liberal party leadership race, and a provincial election – created heightened and for some a troubling level of economic uncertainty.
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