Dollars and SenseNationalNews
Canada’s Housing Market Starting to Cool
Source: Craig Lord Global News, May 14, 2022
The average home price in Toronto last month was more than $1.2 million, down from about $1.3 million the month before, but was still about 15 per cent higher than the year before, when the average price was about $1 million.
The apparent cooling in Canada’s housing market is leaving many buyers and sellers alike confused about how to price and bid on homes in the normally fervent spring market, real estate brokers say.
Those who spoke to Global News said the new market is resulting in negotiation power swinging back into the hands of buyers in many cases.
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