Langstaff Gateway Condos location.The average selling price of homes in Canada fell in March. Canada’s red-hot property market showed signs of cooling in March as the number of homes sold in March and average selling prices fell from the previous month.Please Visit: Langstaff Gateway Condos location to Get Your VVIP Registration Today!
The Canadian Real Estate Association (CREA), which represents more than 100000 real estate agents across the country, reported on Tuesday that the average price of a house sold on Multiple Listings Service was C $796000.
That is down about 3% from last month’s all-time high of C $816720, and there has been a noticeable change in direction after Canadian house prices fell unprecedentedly for much of two years.
“although the housing market is still very active, house price growth must have slowed in March compared with February,” said Jill Oudil, chairman of CREA. “there will be no trend in a month, so we will have to wait to see if this is the beginning of the long-awaited cooling of the housing market.”
The average selling price of homes has fallen, and so has the actual number of homes sold. Total sales in March were 5.6% lower than in February. About 54957 houses were sold in March. This is down 16% from the record sales of nearly 67000 units in the same period last year.
March is usually a month of strong home sales, but it was the biggest monthly decline since June.
Although lower than in February, the average selling price is still up more than 11 per cent from a year ago. But that growth is also slowing. The annual growth rate in March was about half the annual growth rate of 20% in February.
The global labor gap caused by the epidemic has not been repaired. Labor shortage and labor shortage have led to a rise in production costs. According to the data, the working hours of the global labor force have decreased by 3.2% compared with those before the outbreak, including a 2.4% decline in high-income economies.
In addition, there are delivery delays and rising freight costs in the supply chain, driving up commodity prices. Nearly 50% of small business owners in the United States say they are experiencing supply delays.
Fourth, the conflict between Russia and Ukraine led to soaring commodity prices and the fragmentation of the trading system fuelled inflation.
To be honest, for the vast majority of people, it is not necessary to know the cause of inflation. By contrast, “the duration of inflation” is what many people are eager to understand.
With regard to the development trend of inflation, we can see that recently, many economists have expressed the view that “the peak of inflation is approaching and the rise in prices will not last long.” For example, JPMorgan strategist David Kelly believes that “year-on-year inflation is likely to fall further in the coming months.” She drew this conclusion on the basis that gasoline prices, used car prices and global food commodity prices all fell in April.
In addition, Carson predicts that the Fed will accelerate the pace of interest rate hikes to reduce inflation.
Is this really the case? Domestic economists believe that the US plan to harvest overseas income has not been successful, but the inflation won is astonishing and out of control. To put it bluntly, the trend of inflation is still full of great uncertainty– at present, COVID-19 ‘s impact is coming to an end, but the geopolitical risks of Russia and Ukraine are still highly uncertain, and the global supply chain system is facing a relatively severe test. Inflationary pressures remain high.
In fact, we are more inclined to agree with Mazotta, an analyst at UBS, that “although inflation is expected to weaken, it is likely to remain above pre-epidemic levels, so investors should prepare for inflation for 2-3 years.”