This advertisement has not loaded yet, but your article continues below.“Nevertheless, market conditions remain very tight, to the advantage of sellers, with overbidding levels still very high, particularly on the outskirts of the Island of Montreal,” he said. “The changes observed in the market dynamics are precisely explained by the extremely high prices combined with a rapid increase in interest rates, whether they are fixed or variable.
“The strong price increases will thus become increasingly anecdotal over the next few months with a level of overbidding that is bound to fade,” he said. Montreal joins other housing markets across Canada such as Toronto, Vancouver, and Calgary, that have seen rising rates bite into mortgage demand and weigh on the growth of real estate values. Toronto, which also
this week, has been particularly hard hit by a demand shift, seeing prices slip for a third straight month.
Lol… turning point for what exactly? Even at lower pruce nobody can’t afford them due to the current “self inflicted inflation”…. Soon we won’t but nothing and we won’t make much. Quasi economists in action. Again…
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