Mortgage broker Ron Butler discusses home sales data

Mortgage broker Ron Butler says anticipation for potential rate cuts is already causing home sales to “march higher.”

“The thought process is that if rates are in fact going to come down in the summer and in the fall, then there’s a great possibility that prices might start to come up again,” he said in a Tuesday interview with BNN Bloomberg.

Prices, Butler said, “look like they want to front run the market.” 

He made the comments after the Toronto Regional Real Estate Board reported that home sales surged in January from the previous month, and from a year earlier. Home prices, meanwhile, declined slightly, the board reported.