Roughly six weeks into Q2 , there is not enough data to claim anything definitive about the Canadian new home market just yet – but there certainly are strong indicators worth mentioning.
So is this the same old delay story, or is it different this time? Time will tell. But the difference we see now is, the reasons for delay appear to be much less about selling confidence, and much more about the practical challenges associated with turning a market back on. In my view, this is an indicator we’ve moved to the next stage in a market turnaround.
Similarly, vendors who served the industry — from signage companies to law firms and everyone who supports a project going to market — also had layoffs, or reverted their focus to more active lines of business. We are hearing about challenges in getting these people back on the job in a timely manner, with delays in printing, getting disclosures and legal documents sorted, finalizing floor plans and renderings, etc.
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