Lancaster homes bowmanville . The property market slowed in many areas and Vancouver rebounded. Housing sales across the country fell slightly by 1.7% in April, down 7.5% from the same period last year.
Statistics from the Canadian Real Estate Chamber of Commerce show that the real estate market in the Greater Toronto area has slowed, while Vancouver turnover has begun to pick up. Two-story detached houses are the most popular, with national average house prices rising 21.8% and town house prices rising 19.9%.
Property prices in the Greater Toronto and Warville-Meaton areas of Ontario rose by about 30%, Guihu City by more than 20%, and two-story detached houses in Ottawa by 4.9%. After falling in the second half of last year, the property market in the lowland plains of British Columbia has rebounded to the level of a year ago and continues to rise. The average house price in the Greater Vancouver area rose 11.4%, and the Feisha Valley rose 18%. The rise in Victoria and other towns on Vancouver Island remained at 20%. Mandike town house rose 5.5%. The average house price in Calgary is 0.9% lower than in the same period last year.
Peck (Andrew Peck), president of the Chamber of Commerce, pointed out that home sales in Vancouver have fallen from historic highs in the first half of last year, but the gap has begun to narrow. In the Asian provinces of Calgary and Edmonton, which fell last year, the real estate market has also become active. Ottawa and Manchuria can be expected to have a larger trading volume.
Clemp (Gregory Klump), chief economist of the Chamber of Commerce, said that the Ontario government’s policy of cooling the real estate market in the Greater Toronto area has an impact on both buyers and sellers. In the areas of Greater Toronto, Warville-Meaton, Hamilton-Burlington and Kichina-Waterloo, which have been suffering severe shortages of housing supply, there was a sudden and large increase in the number of orders in April. Although the Ontario government announced measures to cool the property market only 10 days before the end of the month, the volume of real estate transactions across the province is already lower than in March. The federal and provincial governments are paying close attention to the impact of the policies of the two levels of government on the real estate market, so as to prevent other measures in the future from affecting the fish in the pond and hurting the already balanced housing market.
New listings across the country increased by 10%, the number of newly opened properties in the Greater Toronto area increased by 36%, and the number of new listings in the Golden Horseshoe area also increased by a similar rate. Due to an increase in new sales and a slowdown in sales, the ratio of national sales to new offerings fell to 60.1 per cent from 67.3 per cent in March. By industry standards, the ratio of sales to new offerings is a balanced market between 40 and 60 per cent, a seller’s market above 60 per cent and a buyer’s market below 40 per cent.
Sales in most British Columbia towns and southwestern Ontario have a ratio of more than 60 per cent to new offerings. The Greater Toronto region returned to a balanced market in April, while the Greater Vancouver area of British Columbia and the Fraser Valley rebounded to become a seller market.
Housing inventory across the country rose slightly by 0.1% to 4.2% in April, but inventory in the Golden Horseshoe area is still extremely tight, only close to or less than a month. Ontario only launched its new real estate policy in late April, so its full impact on the market is not known.
