Ontario and British Columbia headed for a buyer's market, RBC says

The report released Thursday said those purchasing real estate in Ontario and B.C. in 2023 will hold a stronger hand as conditions in these provinces continue to favour buyers as opposed to sellers.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

He noted that this is especially the case across many markets in Ontario and B.C., which are beginning to operate outside of the balanced territory. Property values also fell in Toronto and Vancouver, as Hogue said the trend towards reversing some of the outsized price gains will likely continue in the short term.

He said that the price correction is largely a result of overshooting earlier in the pandemic, where local buyers were met with a sharp decline in affordable property.On the other hand, the report said housing markets in the Prairies remain fairly robust with resales in Calgary, Edmonton, Saskatoon and Regina remaining well above pre-pandemic levels.

Everyone let's start a culture of destroying the terrible asking proces by underbidding. Things have gotten too out of hand due to greed and profiteering.

Times looking good 📉📈🎯

Ha, I'll believe it when I see it.

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