January 2023 and my first market update of the year. So here we go - how's the market doing? 
I just sold a home the other day - lots of showings on it.  I've got a few buyers and I've actually been involved in a bidding war in Guelph. I've seen more buyers coming out than I did months ago.  
What's going to happen with the market? Let's see - on the 26th the new rate increase is coming out.  I should actually say the latest rate "update". Everyone predicts that it's going to be an increase again - quarter point, half a point, somewhere around there. Who knows, they might even go crazy and do a point - I hope not! But I think we're at the point now (the "point" haha) where we are kind of maxed out. We're getting to the point where they have to leave it and hope that this helps inflation come down a bit. Then people will kind of settle into the "this is the new norm" and buyers will come back. 
My other prediction is if there is any hint of a rate decrease once they've realised that we're kind of pushed into a recession, rates might come down a little bit. If that happens, there's going to be a flood back into the real estate market.  
It's funny right now, I can kind of feel that it's going to get busier.  I can feel that multiple offers are going to be coming back again. In 2,3,4 months or so, we might bottom out, but you can't time the real estate market - it's always unpredictable. If I was on the sidelines thinking of buying, I would consider it. I'd heavily consider it because it might come down a little bit more, but like I said, the timing is really hard to pinpoint and I think it's a good time to buy.  I think it's going to be for the next 3,4,5 months or so and then things could change. And they could change rapidly - it's tough to say. But that's my prediction.
So a bit off topic, but I recently won an award! I received the platinum award for top Real Estate Agent by Georgetown Community Votes. Thanks everybody for voting for me - that's really cool!
Any questions about the market? Give me a call, text, email - I'm always around and I can help out anytime - thanks.