Canada will see weakest level of homes sales since 2001 this year: TD report

attributes the prediction to the poorest affordability level since the late 80s and early 90s.

Sondhi is forecasting that home sales will reach their bottom sometime in early 2023, after declining 20 per cent from peak to trough. He says steep annual average price declines are expected in most of the Atlantic provinces, Ontario and B.C. in 2023, while lesser drops will materialize across the Prairies and in Newfoundland and Labrador.

The Canadian Real Estate Association said last month that the actual national average home price was $632,802 in November, a 12 per cent decline from the same month last year.This report by The Canadian Press was first published Jan. 10, 2023.

Source: Real Estate Daily Report (realestatedailyreport.net)

Well' the good thing is maybe more people will be able to afford a house now.

Good. Buyers stepping back and letting the market settle is what is needed.

Now it is a good time to squeeze out the bubble in the real estate market. The downside is that many real estate agents need to find other jobs to maintain their daily expenses.🤣🤣🤣

Because prices are ridiculously high

Good news for buyers

Yet the average home on realtor is 500k for a 2 bed 1 bath. Most posts have been sitting for 3+ months not reducing price.

.. destroying your country's economy has consequences

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