Climbing interest rates, high inflation, turbulent financial markets and geopolitical pressures, such as Russia’s war on Ukraine, were just some of the factors that led buyers and sellers to sit out the season.
“Canada’s conventional and luxury real estate markets are undergoing a long-awaited transition after an era of over exuberance during the pandemic, particularly in those regions that saw the most acceleration over the past two years,” Don Kottick, chief executive of Sotheby’s, said in a news release.
Wonder why? Could it be interest rate increases.
France Dernières Nouvelles, France Actualités
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