Looks like a seller's market will turn into a buyer's market but this will probably take a few years.
Canadian home sales plummet in February, signalling deeper malaise
Canadian home sales dropped sharply in February in a broad-based retreat that highlighted a deepening slowdown in the sector. Home sales fell 9.1 per cent in February from the previous month, the Canadian Real Estate Association said Friday. Transactions slumped 12.6 per cent in Toronto and 4.4 per cent in Vancouver. Prices, meanwhile, remained steady, with CREA’s benchmark index rising 0.3 per cent on the month. The report comes a day after Statistics Canada data showed the country’s home values fell for the first time in at least three decades last year, adding to evidence rising interest rates and a string of government measures ... (full story)
- Posted: Mar 15, 2019 12:01pm
- Submitted by:Category: Fundamental AnalysisComments: 4 / Views: 674