Supply conditions in the Waterloo region have improved over the past year, and with the potential for further policy rate cuts from the Bank of Canada in the coming year, there’s additional optimism for buyers as we head into 2025. Although home sales in 2024 were still well below long-term averages, the last quarter saw a significant rise in transactions, driven by lower interest rates that sparked heightened buyer activity. Furthermore, the introduction of 30-year amortization options for first-time homebuyers and new construction purchases, effective December 15, 2024, along with an increased insured mortgage cap now set at $1.5 million, offer a positive outlook for greater accessibility to the housing market for aspiring homeowners in 2025.