Housing starts climbed 10 per cent in May compared with April, according to the Canada Mortgage and Housing Corporation while Canadian Real Estate Association data shows it was "another sleepy month" for homebuyers. Anne Gaviola has these stories and more in Business Matters for Monday May 17, 2024.A flood of listings in many Canadian housing markets is giving buyers who can qualify their pick of the litter and is forcing some sellers to get creative to land a deal.
While the competition for houses in the market can still be fierce, prompting bidding wars for some sought-after properties, Morrison says it’s “a lot more difficult” in the condo market. In some cases, she says, it’s hard to get even showings on condo properties in Toronto right now. Active listings for condo units in Toronto are at or near record highs right now, notes John Pasalis, president of Realosophy Realty.
Toronto-based Realtor Desmond Brown tells Global News that the confidence isn’t there yet for would-be buyers, leaving condo sellers holding onto properties for longer — three weeks to a month is typical in the current market, he says. The condo market in Metro Vancouver is also facing a slowdown, with sales for apartment-style homes down nearly 23 per cent year-over-year in May, according to the local real estate board.WestJet mechanics serve airline with 72-hour strike notice
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