Ontario and British Columbia headed for a buyer's market, RBC says

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The report by RBC says those purchasing real estate in Ontario and B.C. in 2023 will hold a stronger hand as conditions in these provinces continue to favour buyers as opposed to sellers.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

Sales in Vancouver, Victoria, the Fraser Valley, Toronto, Ottawa, Hamilton, London and Niagara are now seeing a ratio of sales to listings close to 0.40, which Hogue calls the threshold where buyers have more “sway on prices.” Home sales and prices have fallen this year as rising interest rates have increased the cost of borrowing for Canadians.

The country’s big banks have raised their interest rates as the Bank of Canada has raised its key interest rate seven times since March in an effort to bring inflation under control.

Translation...RBC in panic mode.

I thought we were currently in one …

buyers with empty homes, sure.

Homes have increased so exponentially that even with a dramatic drop in selling price still out of the reach of so many. The Canadian dream to own a modest 3 bedroom home just that a dream.

Maybe…

where is the link to the report

Hahaha.

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