Economic uncertainty has led to a stagnant Canadian housing market and buyers hesitant to make any moves.Jennifer Gauthier/The Globe and Mail
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We’re just passing the peak time for home sales in Canada. At least, when it’s usually supposed to be.
Economic uncertainty brought on by trade spats with the U.S. and the war in Iran has led to a stagnant housing market in the country and buyers hesitant to make any moves lest prices drop further or interest-rate hikes lie ahead.
But will this be the case for long? Toronto’s housing market showed signs of rebounding in June, with home sales up for the fourth straight month and prices increasing for the first time in more than a year. Other signs aren’t as promising, meanwhile, making it hard for owners, buyers and sellers to know how to weather the storm.
Real estate reporters Rachelle Younglai, Carolyn Ireland and Shane Dingman and mortgage reporter Salmaan Farooqui answered reader questions about the state of the housing market, the most interesting real estate pockets in Canada and what’s happening with the preconstruction condo market. Read their responses in the comments below.