{"id":10193,"date":"2018-09-03T10:10:31","date_gmt":"2018-09-03T17:10:31","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10193"},"modified":"2018-09-01T08:01:50","modified_gmt":"2018-09-01T15:01:50","slug":"canadas-strongest-buyers-sellers-housing-markets","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/09\/canadas-strongest-buyers-sellers-housing-markets\/","title":{"rendered":"Canada&#8217;s Strongest Buyers&#8217; &#038; Sellers&#8217; Housing Markets"},"content":{"rendered":"<p style=\"text-align: justify;\">After a rough start to the year, the Canadian housing market started to warm up in July, with sales and prices inching up month-over-month.<\/p>\n<p style=\"text-align: justify;\">But while most markets remain in balanced territory, not every city is made equal \u2014 though the GTA has seen signs of recovery, many of BC\u2019s major markets continue to struggle.<\/p>\n<p style=\"text-align: justify;\">With this in mind, Zoocasa has measured the sales-to-new-listings ratio for 26 of Canada\u2019s major housing markets, to determine which fall into buyer or sellers\u2019 territory. A ratio of between 40 to 60 is considered balanced, with reading below and above indicating buyers\u2019 and sellers\u2019 markets, respectively.<\/p>\n<p style=\"text-align: justify;\">\u201cThose looking to ascend the property ladder in [cities with a buyers\u2019 market] will encounter fewer competitive hurdles such as bidding wars, as the number of sales are too few to outweigh new inventory,\u201d reads the Zoocasa report. \u201cSales activity ranges from roughly flat to steep declines, from the -0.8% recorded in the Edmonton real estate market, to the -33.4% drop in BC\u2019s Fraser Valley.\u201d<\/p>\n<p style=\"text-align: justify;\">The report found that the country\u2019s strongest buyers\u2019 markets were Newfoundland and Labrador (35%), Greater Vancouver (43%), Fraser Valley (45%), Edmonton (48%) and Quebec (49%).<\/p>\n<p style=\"text-align: justify;\">\u201cA buyers\u2019 market doesn\u2019t necessarily equal an affordable market,\u201d Zoocasa managing editor Penelope Graham tells Livabl. \u201cWhen you look at the fact that two of the strongest buyers\u2019 market are in BC, those markets are still quite unaffordable for many buyers, but the new mortgage stress test which came into effect in January is having a greater impact on these areas than in other areas of the country.\u201d<\/p>\n<p style=\"text-align: justify;\">When it comes to sellers\u2019 markets, London and St. Thomas came in first at 78 per cent, followed by Montreal (73%), Ottawa (72%), Windsor-Essex (71%) and Saguenay (70%).<\/p>\n<p style=\"text-align: justify;\">\u201cIn these strong sellers\u2019 markets, your home likely won\u2019t linger for long, and is more likely to draw in multiple offers, as strong buyer demand outstrips the number of homes available for sale,\u201d reads the Zoocasa report. \u201cSome regions, such as the Ottawa real estate market, are becoming especially popular for their supply of affordable single-family homes, drawing a steady stream of buyers from more expensive neighbouring municipalities.\u201d<\/p>\n<p style=\"text-align: justify;\">According to Graham, it\u2019s important for buyers to be aware of the market conditions of the area they\u2019re looking in, in order to prepare for unexpected hurdles.<\/p>\n<p style=\"text-align: justify;\">\u201cYou can better prepare for a multiple offer situation,\u201d she shares. \u201cYou can consider the fact that you might have to sweeten your offer later on, and you can be smart about setting your target budget.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2018\/08\/184194.html\" target=\"_blank\" rel=\"noopener\">These are Canada&#8217;s Strongest Buyers&#8217; &amp; Sellers&#8217; Housing Markets<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a rough start to the year, the Canadian housing market started to warm up in July, with sales and prices inching up month-over-month. But while most markets remain in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/09\/canadas-strongest-buyers-sellers-housing-markets\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10193","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canada&#039;s Strongest Buyers&#039; &amp; Sellers&#039; Housing Markets &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/09\/canadas-strongest-buyers-sellers-housing-markets\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canada&#039;s Strongest Buyers&#039; &amp; Sellers&#039; Housing Markets &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"After a rough start to the year, the Canadian housing market started to warm up in July, with sales and prices inching up month-over-month. 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