Posthaste: Canada's luxury housing market falls 'back to reality' from heady heights

📆 10/19/2022 6:06 PM
📰 OttawaCitizen

⏱ Reading Time:
16 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 68%

United States News News

United States United States Latest News,United States United States Headlines

Economic headwinds and a surge in summer travel kept luxury property buyers and sellers on the sidelines in the third quarter. Find out more.

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.

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:

Write Comment

Wonder why? Could it be interest rate increases.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Posthaste: Canada's luxury housing market falls 'back to reality' from heady heightsEconomic headwinds and a surge in summer travel kept luxury property buyers and sellers on the sidelines in the third quarter. Find out more.
Source: calgaryherald - 🏆 64. / 52 Read more »