New report by Royal LePage predicts recreational property sales, prices, across Ontario will fall five per cent in 2023
The trend of fleeing urban areas for life in the country, as witnessed during the COVID-19 pandemic, could very well be a thing of the past.
“Can we foresee people sitting tight and waiting to see what happens? Yes. With the low listings that are out there, if somebody’s not really finding something that they really want, like they said in the report, they’re going to sit tight and wait it out.” “We’ve had a massive influx of sales over the last little while, as well as most of Ontario,” said Rogers. “With mortgaging pricing, as good as it was, people were definitely taking advantage — hence all the bidding wars and all the craziness we had going on.
“We definitely had the influx of people taking advantage of the prices that they were getting for their homes in the city and then being able to move up here and buy a fairly decent property and have some money in the bank, whether it was retirement or just a different lifestyle change for them,” she said.
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