“We believe the housing market is playing a weird game musical chairs right now,” Eisner told the Financial Post in an e-mail. “In this game, no one is willing to stand up until they have a guaranteed new chair to sit in. When we see ten or 15 bids on a home, we know there are ten to 15 homes that haven’t been listed yet. Once the market begins to roll over, it will move quickly as everyone swaps chairs.
Mortgage expert Rob McLister also pointed out Canada’s housing markets are suffering from a lack of quality listings. Until then, McLister said the property segments that will see more robust demand would be those over 1,000 square feet with two or more bedrooms and a smooth commute to employment hubs. As well, a price point south of $1 million will remain in greater demand for house hunters.
That's okay, the BoC has other plans anyway
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