An early September interest rate cut has given consumers a little bit of comfort, but many buyers are still holding out with the hope that housing will become more affordable if rates and prices slide
Tentative buyers in the Toronto-area real estate market appear more willing to approach the bargaining table as the fall market kicks off, but they are quick to back away when sellers seem immovable.
On a recent weekday, Mr. Warren was moving from one open house to another in Forest Hill, where agents from various firms banded together to put on a showcase of homes. The Canadian Real Estate Association points to “fledgling signs of life” as monetary policy eases, but the national housing market activity is pretty much stuck in a holding pattern, acknowledges senior economist Shaun Cathcart.
Listings in Canada are at their highest level since June, 2022, Mr. King points out in a note to clients. He believes that a relatively small percentage of sellers are listing because of financial pressures, but he will be keeping an eye on that phenomenon in the months ahead as he expects the Canadian economy will remain weak.
A buyer stepped up at another listing in Bedford Park after Mr. Kutyan listed the house slightly below the $3-million mark. The house sold conditionally, but the buyer walked away after a successful negotiation. The successful sellers in Bedford Park are downsizers who turned their search to a two-bedroom, two-bathroom condo in the $750,000 to $850,000 bracket in the area around Yonge and Eglinton.
Toronto Real Estate Ontario Real Estate Noastack Buyer Price Cent House Market Bank Rate Basis Bank Of Canada Forest Hill James Warren
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