After fuelling Canada’s economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate.
The average home price is still above pre-pandemic levels, but increasing mortgage rates and inflationary pressures are weighing on the market. “Home prices continue to fall and have further to go before they find a bottom,” said Randall Bartlett, Hélène Bégin and Marc Desormeaux, in a report released July 11.
It’s a change from the torrid pace of sales and frenzied bidding wars seen earlier in the year and late last year. “If you look at the 10-year average of Metro Vancouver, housing prices are way up and if they do dip, they might dip slightly and come back up. There’s always been sort of a steady incline with dips along the way.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada's real estate market is cooling. Here's what to expect this fallAfter fuelling Canada's economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate. We can expect Blackrock, the financial arm of the WEF to scoop up foreclosures and we will be on the path of owning nothing and being happy about it! You guys might want to stay away from comments from realtors. They have an incentive to get people to buy now. Housing market in a free fall. Wait till February and reassess then
Source: CP24 - 🏆 30. / 67 Read more »
Canada’s housing market is cooling off. What does this mean for the fall? - National | Globalnews.caAfter fuelling Canada's economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate.
Source: GlobalNational - 🏆 81. / 51 Read more »
Canada’s real estate market is cooling. Here’s what to expect this fallThe average home price is still above pre-pandemic levels, but increasing mortgage rates and inflationary pressures are weighing on the market All the very best 💖 for its success 👍
Source: globeandmail - 🏆 5. / 92 Read more »
Canada's real estate market is cooling. Here's what to expect this fallAfter fuelling Canada's economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate. It's welcome news for prospective buyers hoping for a better price. But as the busy fall season nears, realtors and economists are at odds over how long the pricing slide will last and how low it will go.
Source: CTVNews - 🏆 1. / 99 Read more »