We're closing out the year in a much different market than we started with. CREA_ACI | realestate realestatenews realestatemarket Canada
. In fact, with the one exception of 2019, November 2022 saw the fewest new listings for that month in 17 years.
These findings are a stark contrast from earlier this year when markets all across Canada were staunchly in sellers’ market territory, with stiff competition and rapidly rising prices prevailing. Interestingly, CREA noted that Calgary, Regina, and Saskatoon, which are all balanced, “stand out as markets where home prices are barely off their peaks at all.”
Niagara Falls-Fort Erie is the furthers into buyers’ market territory, CREA found, followed by Brantford, the GTA, Chilliwack and St. Catharines. Kitchener-Waterloo has narrowly edged into a buyer’s market, with Cambridge and Vancouver Island also teetering near the cusp.Just 11 markets remain in favour of sellers, CREA’s data reveals, all of which appear to be in some of the country’s more remote and less sought-after areas, including Timmins and Medicine Hat.
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