By: R E Ality

R E Ality — Fri, 23 Aug 2024 12:56:51 +0000

There will be no increase in sales activity until real estate values come down. Most buyers do not qualify for a home at the current asking prices. Any economist knows that as supply grows and demand declines that will put pressure on values to decrease. Yes there is demand but only at a price. Interest rates are only one per of the equation. If sales suddenly increased and values went up we would be in the exact same boat as we are today. Buyers that do not qualify for a property . Buyers will wait it out. It is more likely that we will see more POS and distress sales. And motivated sellers begin to accept lower offers. That is how markets change.

Comments on: Summer pulse check & fall outlook: What’s happening in Canadian real estate markets

By: R E Ality