{"id":13503,"date":"2019-08-30T10:10:10","date_gmt":"2019-08-30T17:10:10","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13503"},"modified":"2019-08-29T17:27:15","modified_gmt":"2019-08-30T00:27:15","slug":"the-majority-of-housing-markets-remaining-balanced-but-sellers-may-soon-get-the-upper-hand","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/08\/the-majority-of-housing-markets-remaining-balanced-but-sellers-may-soon-get-the-upper-hand\/","title":{"rendered":"The Majority of Housing Markets Remaining Balanced, But Sellers May Soon Get The Upper Hand"},"content":{"rendered":"<p style=\"text-align: justify;\">The Canadian housing market is teetering on the verge of favouring sellers despite the vast majority of local markets remaining balanced \u2014 for now.<\/p>\n<p style=\"text-align: justify;\">In Scotiabank Economics\u2019 latest Housing News Flash, Provincial Economist Mark Desormeaux assessed July conditions in 31 Canadian housing markets: he categorized 22 of them as balanced, while seven were seller\u2019s markets and two were buyer\u2019s markets.<\/p>\n<p style=\"text-align: justify;\">Scotiabank Economics looks at cities\u2019 sales-to-new listings ratios to determine where markets stand, as well as how the current ratios stack up to long-term norms.<\/p>\n<p style=\"text-align: justify;\">On a national level, the sales-to-new listings ratio increased for the fifth straight month, reaching 59.8 percent, meaning that for roughly every 10 homes listed, six homes sell.<\/p>\n<p style=\"text-align: justify;\">This is significant because ratios above 60 percent are generally considered to suggest a seller\u2019s market, while the 40-to-60-percent range reflects balance and sub-40-percent ratios indicate buyer\u2019s markets.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile still indicative of a balanced market \u2014 22 of 31 major cities reported balanced supply-demand conditions \u2014 the ratio continues to edge closer to sellers\u2019 market territory and was at its highest point since January 2018,\u201d Desormeaux explains in the report.<\/p>\n<p style=\"text-align: justify;\">Of the 22 markets that were balanced, half moved some degree closer to seller\u2019s market territory in July.<\/p>\n<p style=\"text-align: justify;\">\u201cPositive momentum continues across Canada\u2019s regional housing markets after multiple years of policy-induced slowdown,\u201d says Desormeaux.<\/p>\n<p style=\"text-align: justify;\">In July, Moncton overtook Montreal as the top seller\u2019s market with a sales-to-new listings ratio of 78.1 percent; the latter was scuttled to the second slot at 73.5 percent.<\/p>\n<p style=\"text-align: justify;\">Regina maintained its position as the most clearly defined buyer\u2019s market, with a ratio of 42.5 percent.<\/p>\n<p style=\"text-align: justify;\">Looking ahead \u2014 and seemingly in spite of the sales-to-new listings ratio moving higher \u2014 Desormeaux suggests the market won\u2019t reach previous heights. Instead, headwinds will emerge, limiting future activity.<\/p>\n<p style=\"text-align: justify;\">\u201cGoing forward, we expect easing job creation after the surge seen in the early months of this year to result in more modest demand-side pressures,\u201d he says.<\/p>\n<p style=\"text-align: justify;\">\u201cStill, interest rates remain stimulative and healthy population growth via stepped-up immigration will likely continue to put a floor under housing market activity for the next several years.\u201d<\/p>\n<p style=\"text-align: justify;\">Find out where your local market stands below :<\/p>\n<p><a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=13504\" rel=\"attachment wp-att-13504\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-13504\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/08\/canadian-housing-market-stats-july-2019-288x265.png\" alt=\"\" width=\"611\" height=\"563\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/08\/canadian-housing-market-stats-july-2019-288x265.png 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/08\/canadian-housing-market-stats-july-2019-768x707.png 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/08\/canadian-housing-market-stats-july-2019.png 794w\" sizes=\"auto, (max-width: 611px) 100vw, 611px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2019\/08\/sellers-get-upper-hand-canadian-housing-market.html\" target=\"_blank\" rel=\"noopener noreferrer\">Sellers May Soon Get The Upper Hand in The Canadian Housing Market<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian housing market is teetering on the verge of favouring sellers despite the vast majority of local markets remaining balanced \u2014 for now. In Scotiabank Economics\u2019 latest Housing News &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/08\/the-majority-of-housing-markets-remaining-balanced-but-sellers-may-soon-get-the-upper-hand\/\">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-13503","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Majority of Housing Markets Remaining Balanced, But Sellers May Soon Get The Upper Hand &#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\/2019\/08\/the-majority-of-housing-markets-remaining-balanced-but-sellers-may-soon-get-the-upper-hand\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Majority of Housing Markets Remaining Balanced, But Sellers May Soon Get The Upper Hand &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The Canadian housing market is teetering on the verge of favouring sellers despite the vast majority of local markets remaining balanced \u2014 for now. 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