With home prices falling, could this be the right time to buy?
The Brexit vote brought about plenty of reaction on the international stage when a majority of U.K. voters sided with leaving the EU. In Canada, Brexit is already affecting the Loonie, it could have an impact on our real estate market and it may alter some of our travel plans.
Have home sales peaked? The Canadian Real Estate Association seems to think so. But despite limited numbers of homes available for purchase in the country’s two hottest real estate markets, Canadians can expect to see steady gains in price of homes and demand in most markets over the coming months.
Slight gains are being witnessed in the Canadian housing market for the first time since August – and they could be a sign that real estate is slowly starting to recover from CMHC’s mortgage rule change bomb earlier this summer.