Homeowners Reluctant to List Properties for Sale due to Significantly Lower Home Prices - March 29

Homeowners Reluctant to List Properties for Sale due to Significantly Lower Home Prices - March 29th, 2023

The Toronto-area real estate market is experiencing a slow spring as homeowners are hesitant to list their properties for sale, according to an article in the Globe and Mail on March 29th, 2023

A market insider said the market is not behaving normally as new listings decreased in February compared to January.

The lack of inventory has resulted in sellers in urban areas receiving multiple offers, but the pace of each market varies by region.

However, despite some multiple offers, several Toronto areas saw severe average price declines compared to last year.

On a national level, home sales rose 2.3% on a seasonally adjusted basis in February from January, despite the slowdown in the Toronto market.

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Disclaimers:

--- Note: this video is not real estate, legal, financial nor accounting/tax advice and should be used for entertainment purposes only. It may contain our own independent opinions which should not be considered as advice of any kind. Consult with your own real estate, legal, financial, accountant and/or tax advisor for specific advice related to your business or personal situation and needs.

--- Material referenced under Fair Use / (Fair Dealing in Canada) for the purposes of news reporting. No copyright infringement intended. The above copy and video information is an interpreted summary of a report by Carolyn Ireland of The Globe and Mail and published on the globeandmail.com with changes to the title of the article and our own constructed written summary and may contain our own commentary or opinion. If the owner of the material wants it removed, changed or further accreditation, contact us directly by email and we’ll discuss any required changes.

---For the full original article visit their website and article at:

https://www.theglobeandmail.com/real-estate/toronto/article-in-a-slow-spring-home-sellers-are-dragging-their-feet/