Where might the prices be headed?

Momentum swings are a funny thing. When everything seems to be headed in one direction with great force and conviction, along comes something to set it off course and reverse it. Take for example a hockey game where the home team is losing and the coach puts out his toughest line with a pugilist or two and boom, a fight breaks out, the home team wins the fight and the momentum swings in their favour. What does dropping the gloves in a hockey game have to do with real estate? Back in 2021 all the way to February 2022 the real estate market had what fet like an unstoppable force of momentum that was stopped dead in it's tracks by a 0.25% interest rate increase by the Bank of Canada. Buyers and Sellers alike dove off into the sidelines to take a wait and see approach. Only buyers and sellers who really needed to transact were doing so, and that is the current momentum, rate hikes and sidelines, rate hikes and side lines. Are interest rates the one and only factor that make up what direction a market goes? No, employment rate, immigration rate, supply of homes and the ability or in our case the inability to increase the supply to meet our needs are also huge factors. Just like a hockey game, the fights don't determine which team scores the most goals, there are much more important facets to winning a hockey game such as defencive and offensive strategies and execution of said strategies. Getting back to momentum, I'm sure that considering how many months of rate hikes we have endured and the current trend of slowing inflation there's bound to be a change coming soon. The bank of Canada will at some point stop raising rates, and that is the hockey fight that will reverse the momentum, and when that happens, buckle up buyers.