November 2025 Thoughts From Judy Stacee-Cleaver, Broker of Record, FRI,ABR

Our Clocks and the Weather Have Changed, What About the Market?

The Blue Jays in the World Series gave Canada great joy and pulled us together.  As we sat glued to the TV, it gave us a sense of pride to be a Canadian. What they did for the country was fantastic!  

We are now working our way towards the holiday season, as Realtors we are often asked, "when is the right time to buy or sell?" 
If you have a need to sell now, then consider doing it because no one knows if the prices will adjust downward over the next few months. 
The buyers continue to be cautious, and some will feel good about the market and how prices and the interest rates have favourably adjusted and will purchase before year's end. 

Fear is our biggest enemy.   It's the "what ifs" that continue to stop us from going forward.  What if I don't get the price I need? What if the interest rates go higher or lower?  Timing is very important but one thing for sure, if you take your house off the market during the holidays then no will know you want to sell and you may help sell someone else's listing.   

 October 2025 Durham Region Housing Market Statistics did show relatively stable sales activity across most regions.
While some areas experienced price adjustments and a build-up in inventory, these trends are helping to create balance and more options for buyers in the Durham Region.
 
October’s numbers show that buyers and sellers are adapting to today’s economic realities.  We’re seeing continued moderation in prices across several markets, which may open new opportunities for buyers who were previously priced out, especially following the recent interest rate adjustment to 2.25%. 

In Durham Region, 715 homes sold in October, compared to 888 in 2024. The average selling price was $851,764, representing a modest decline of 2.98% from last month’s $877,963 and 4.18% from October 2024. 

Listings are up considerably and with relist cycles increasing, it is taking 2, 3 or 4 times as long to sell, and inventory continuing to build is providing buyers with more choice. 

TRREB reported similar Statistics for the GTA in October 2025.  The monthly mortgage payment for an average-priced home in the GTA continued to trend lower benefiting from both lower borrowing costs and selling prices.  This means more buyers can afford to purchase a home that meets their housing needs. Once there is more certainty on the economic front, including trade with U.S. and China, home sales should increase. 

Price discovery has not yet run its course, and the depth of unsold housing stock ensures it will continue. 
For buyers, the opportunity is real but requires discipline. Lower prices and reduced competition do not automatically translate into strategic entry points.

The prudent buyer evaluates not just headline prices but the trajectory of inventory, the stability of employment and the likelihood that financing conditions will shift again before maturity. The discount available today may expand tomorrow. For sellers, realism is not optional.  List-to-sale ratios are already reverting toward levels seen in the early 1990s, 
and the pool of buyers who can purchase without financing friction is narrowing.
Pricing to the market, not to the memory of 2021 valuations, is now the difference between selling and relisting.  

The next decisive turn in the housing market will not be triggered by a single rate cut or a cosmetic rebound in monthly sales. It will come when inventory begins to clear at a sustained pace and when buyers regain conviction of which neither condition is currently in place. 
 
The October report will be read by some as evidence of a turning point in affordability. Markets do not bottom out on hope. They bottom out on exhaustion. Data shows a market still searching for that threshold. I remember the prices before the COVID stimulus, the interest rates were low and no one saw what was coming. 

Prices went out of control. We saw the Banks implement a stress test for buyers to qualify for a house purchase, the interest rates continued to climb just in time for renewals in mortgages.  Fear and anger had many spinning. It has been five years in the making with many changes in policies and politics. I do hope the worst is past us and that we can go forward.

Only time will tell. Thank you for your support,
Judy --