Has The Adjustment in the Canadian Housing Run IT's Course?

In August, national home sales dropped 24.7% yearly, but just 1% month over month which was the smallest decline in 6 months.  Along with steady month over month sales, demand/supply conditions were also stable in many markets.  This could be an early sign that the sharp adjustment in Canadian housing markets is coming to an end.  Due to low sales in previous months, the number of newly listed homes was down 5.4% in August.  The sales to new listings ratio rose month over month to 54.5%, when the long term average is 55.1%

Contact us for any real estate needs and a low 1% listing fee if just listing your home or only 0.5% if also buying a home with us.

Michael Gallant

905-442-8009 / soldbymike@rogers.com