Market watcher does not expect wave of distressed home sales, but owners likely to pull back on spending
also signalled its intention to pause at the latest meeting after moving the policy rate from 0.25 per cent in early 2022 to 4.5 per cent.
Looking farther ahead, Mr. Bartlett is concerned that slow sales in the current market for pre-construction condo units will lead to a shortage of units in the coming years. While a rush of supply will come on this year and next after a sales boom during the pandemic, that segment is currently in a slump and immigration is expected to increase., meanwhile, the end of one year and start of the next has brought a sudden flurry of sales, agents say.
In another case, sellers had actually taken their one-bedroom unit at 301 Markham St. off the market with a plan to relist in the spring. A downsizing couple who had looked at the unit when Mr. Bibby had it listed for $629,900 in the fall contacted him in early January and asked to see it again.Typically, condo units sold for between 3 and 6 per cent below the asking price, he says.That’s a significant change from the fall when many properties did not even have showings, he says.
“The minute we say we have an offer, no one wants to compete downtown,” he says. “Once that notice goes out, all eyes are on you.” “‘I don’t want to give my place away,’” is a common refrain, she says, as sellers adjust their mindsets to lower prices.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Toronto turning into Gotham city': How random violence is pushing Toronto to a tipping point'Toronto turning into Gotham city': Is rising random violence pushing Toronto to a tipping point?
Read more »
Toronto to provide additional TTC safety measures after series of violent attacks - Toronto | Globalnews.caThe city said it, and the Toronto Transit Commission (TTC) 'continue to prioritize community safety on Toronto's transit system.'
Read more »
'Toronto turning into Gotham city': Is rising random violence pushing Toronto to a tipping point?Random violence on the transit system is pushing Toronto to the tipping point.
Read more »
'Toronto turning into Gotham city': Random violence pushing Toronto to tipping pointICYMI 'Toronto turning into Gotham city': How random violence is pushing Toronto to a tipping point
Read more »
Experts insist that Toronto's overblown housing market isn't actually tankingDoom and gloom headlines have been the big story in the Toronto real estate world through 2022 and into the new year, but for all the negative fore...
Read more »