Canadian home sellers are more optimistic about the spring market, with fewer listings being canceled—only 17.8% in December 2024, the lowest since May 2023. This optimism is partly fueled by recent rate decreases and the potential for a spring federal election, particularly in Ontario. While home sales were down 5.8% month-over-month, they rose 13% from last year, and national home prices saw a slight 0.3% increase. Regional differences exist, with Quebec and British Columbia seeing the most significant drops in canceled listings, while Nova Scotia had the lowest.
Despite this optimism, experts warn that the market won’t return to 2022’s highs. BMO economist Robert Kavcic forecasts modest price and sales increases, but believes it will take years—likely until 2029—for prices to reach those peak levels due to ongoing affordability issues and reduced investor activity.
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These forms are provided to ComFree’s Unrepresented Sellers as a part of their Mere Posting ComFree Listing Contract and in partnership with Zubic Law.
I acknowledge I can only access these forms as a ComFree customer under contract.
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