Rates and home prices get a lot of attention, but people are what really drive the market. Where they work, where they want to live, and how they feel about buying all play a role. 

While home prices are down and people may feel more ready to buy, sales are still slowing. Nationally, home sales were down 7.7 per cent year-over-year in September, showing that lower prices alone aren’t necessarily enough to get buyers moving.

For real estate professionals, that can be tricky because what's holding people back isn't always something you can see in their finances or in statistics.

These days, the biggest obstacle between a client and a home often has nothing to do with the home. It’s a job that might not be there next year, a partner who isn’t sure or a fear of making the wrong move.

Understanding that emotional layer, not just the financial one, is becoming the most important part of the job.

In this article, I’ll go over some of the emotional concerns we’re hearing from clients, and what real estate professionals need to know when we’re working with them. 

Confidence starts with job security 

Lower prices should be good news for buyers, and TRREB’s CIO Jason Mercer says they are. But he also says economic uncertainty is keeping many people from acting. 

“We know there is substantial pent-up demand in the GTA, with many households fully intending on purchasing a home in the months ahead,” he said. The catch, he says, is that those buyers need to be “confident that their employment situation will remain solid.”

Having a steady job can be a big part of feeling ready to buy, but it's obviously not something agents can predict. With the way the economy has rocked our world over the last year, there’s no doubt that people are hesitant, with 68,000 jobs lost in September alone. 

For agents, this is a reminder not to read hesitation as a lack of interest. A client who keeps pausing could be waiting to feel secure about their income before committing.

Rather than pushing past that, it helps to acknowledge it directly and to focus the conversation on what a client would still be comfortable carrying if their situation changed. Honest planning does more to build confidence than any pitch about current rates or prices.

Buyers are rethinking where, not whether

CREA says negative population growth is already affecting some regional markets, particularly in Quebec and the East Coast, where there are already fewer homes available.

At the same time, affordability is pushing some buyers to widen their search, looking beyond the areas they originally had in mind.

We’re seeing some of these changes with our own clients, whether that means moving further from the city centre, considering a different neighbourhood or looking for more space at a price they can afford.

For some clients, it's about finding a better balance between what they can afford and the lifestyle they want. Others are putting their plans on hold until they feel more comfortable with the market.

At this point, buyers aren't necessarily walking away from the market, but they’re adjusting their expectations and looking at different options to find what works for them.

That’s why it’s worth looking past the national headlines and paying attention to your own market.

Local prices, inventory and job conditions shape what buyers are willing to do, and whether they feel ready to move, far more than any countrywide number. It’s also where you add the most value.

As someone who knows the area, you can tell a client what a national stat never will: whether homes on that street are actually selling and how quickly, whether sellers are negotiating, and how their specific pocket is trending even when the headline number is falling.

A grounded read is often what helps a hesitant buyer feel steady enough to make a decision.

Why buyers stall even when the numbers work

Someone can have the down payment, good credit and a pre-approval and still feel unsure about moving forward. Most agents have worked with a client who loves a home but keeps coming back with one more question before they’re ready to take the next step. 

Real estate agents can start by talking about the worry instead of working around it and asking the hard questions like - What would need to be true for you to feel comfortable?

From there, it helps to plan for the worst case together. If a client is nervous about a few months of lower income, walk through what they’d do if it happened. Once it’s a plan instead of a vague fear, it tends to feel a lot more manageable. 

The takeaway for agents is that hesitation usually isn’t a problem to overcome; it should be treated as information.

A client stalling on a home they love is telling you something still feels unresolved. Naming it and making a plan around it does more to move them forward than any reassurance about the market ever could.

Meeting clients where they are

For clients who aren’t ready to make a big commitment, that doesn’t necessarily mean they need to walk away from the market altogether. It can be a good opportunity to revisit their budget, figure out what they’d be comfortable spending each month, and think about what would need to change for them to feel ready.

That might mean waiting, saving a little longer, or looking at different neighbourhoods or property types.

For clients who are ready to move forward, it’s still worth making sure they’re making a decision they’ll feel good about beyond the excitement of finding the right home.

That means looking closely at the full cost of buying, including mortgage payments, property taxes, maintenance and closing costs, and making sure there’s still room in the budget for the unexpected.