November 2022 Newsletter Introduction

How well prepared are you for this Fall/Winter? I felt that we completely skipped Fall and went straight into Winter! The extreme weather conditions have left me unprepared for the flurry of snow instead of the expected heavy rain that usually is associated November. I had purposely bought a rain jacket to prepare myself for the heavy downpour. I haven’t even gotten a chance to break it in and now I’m in my heavy winter puffer jacket!! The drastic temperature have also impacted the health sector as well. We have seen a uptick of emergency admittance due to the storage of many over counter drugs for ie. Children Tylenol and cold medication. With no access to those medication, many families with young children with high fevers have to head to the hospital in hope to be given some. The strain of flus / colds is more prominent for this season, so make sure to implement the proper social distancing and hygienic etiquettes. 

The trend of the real estate market is still on track of being stable with not much activities being made as many buyers are holding out to see when the rates will stop raising. We still have two more rate announcements to be expected. How will this impact the market in the next few months? There is a potential that there would be large influx of sellers needing to sell in early Spring as they may not be able to keep up with their mortgage payments / possibility of a large amount of foreclosures which some buyers may want to wait to take advantage of this opportunity to purchase a home at a better price. Prices will remain on a steady decline which would be closer to the price of early February /March of 2022 with a slight chance of further reduction in price.

– Sam