Ontario Real Estate Is Heading Towards a Shift to the Seller’s Market

The Canadian Real Estate market started to cool in 2023 due to controlled inflation and steady interest rates set by the BoC.
There is an increase in demand for homes, but concerns arise about the supply not being able to meet the demand, leading to potential price hikes.
Home sales have been picking up, ↑ 10% MoM, the avg house price ↑ 3.7%, and the number of days on the market ↓ to 23-day in April.
Bidding wars between buyers may occur due to increased competition and limited housing availability.
Sellers are expected to benefit from the current market conditions, while buyers are encouraged to act quickly before prices rise further.
The recovery of the Canadian Real Estate market presents an opportunity for buyers to become homeowners while prices are still affordable.

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