Active MLS Listings in Canada is at a twelve-year low and yet there is only 4.2 months of supply left to be marketed. The amount of active listings in the country is increasing but that does not mean that there is an increase in demand. The number of active listings is still low when compared to other countries in the world. If current trends continue, fewer real estate listings will continue to weigh down sales activity. The result will be fewer homes available for purchase.
Cool Buying Secrets For Buyers
Homebuyers are now entering the market with cautious optimism. Recent home price declines have increased buyer optimism. Even though real estate markets have shown some signs of strength recently, Canadians are taking a wait-and-watch approach until market conditions reverse. The combination of high levels of confidence in the housing market, low levels of supply, and buyers who are waiting to buy means that home prices are now within range of buyers who are ready to buy in the coming months. This is good news for homebuyers and sellers who want to take advantage of real estate bargains in Canada.
In recent years, we’ve seen the average homebuyer save money by purchasing a house that has been listed at a higher price than they could find in an active MLS Listing in Canada. Unfortunately, most buyers never find out if they truly can afford the house they plan to purchase because of the difficulty of obtaining a mortgage loan at rock-bottom interest rates. With the current cooling in real estate markets across North America, Canadian buyers may be able to bypass this problem and obtain mortgage loans much easier. If sellers can find buyers who are willing to buy at low prices then prices will surely continue to drop.