Our local real estate market is starting to show early signs of price growth decline and a move to more inventory and choices for buyers. This is typical for this time of year. In 2022 we peaked in June. Inventory levels remain low and new builds are still behind demand. Affordability remains an issue with apartment sales and row housing being a popular choice for many. I predict we will see a more balanced market over the next couple months with perhaps a fall run as global and domestic investment dollars focus on our region. We continue to experience good net migration which will protect us from any major market correction due to rising interest rates and cost of living. As far as the longer term future goes and looking at it from a big picture stand point it is worth noting that by 2050 the global population is forecast to grow by 1.5bn to 9.7bn and its middle class to double to 6bn people.
