TORONTO - High interest rates will continue to hold back homebuyers into the new year, except in Ontario and British Columbia, a new report by RBC says.
“The number of homes changing hands is running below pre-pandemic levels in most regions of the country,” Hogue said. Property values also fell in Toronto and Vancouver, as Hogue said the trend towards reversing some of the outsized price gains will likely continue in the short term.
Are we surprised?🙃 it’s a “buyers market” cus the “prices are low” and the “interest is high” when in reality that means everyone is “selling cus their losing money” yet “nobody is buying cus their losing money”Then they wonder why AB isn’t flopping like the “progressives?”🤭hmm
LOL. No. With average home prices so much higher than the rest of Canada, and high interest rates on top, they’re obviously a long ways away from being a “buyer’s market”.
Nobody will be buying anything with high interest rates
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