Canada's real estate market is cooling. Here's what to expect this fall
BNN Bloomberg
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.
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.
"The fall is going to be interesting because we're going to see probably more buyers jumping into the market and you don't need a ton more buyers to provide a little bit more stability to prices," said John Pasalis, president of Realosophy Realty Inc. in Toronto.
"Just a little bit of a bump in demand could be the difference between homes selling in three, four weeks versus selling in two weeks or selling a lot faster."
