{"id":16923,"date":"2020-11-24T10:10:00","date_gmt":"2020-11-24T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=16923"},"modified":"2020-11-18T11:13:39","modified_gmt":"2020-11-18T19:13:39","slug":"strong-real-estate-market-could-decline-in-november","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/","title":{"rendered":"Strong Real Estate Market Could Decline in November"},"content":{"rendered":"<p style=\"text-align: justify;\">Canadian homes sales declined marginally by 0.7% in October from a month earlier, but actual activity compared to a year ago increased by 32.1% because of how many people have chosen to upgrade their households, likely as a result of the COVID-19 pandemic, according to the Canadian Real Estate Association.<\/p>\n<p style=\"text-align: justify;\">\u201cMany reasons have been suggested for why this is when many traditional drivers of the market, economic growth, employment and confidence in particular, are currently so weak,\u201d Shaun Cathcart, CREA\u2019s senior economist, said in a news release. \u201cSomething worth considering is how many households are choosing to pull up stakes and move as a result of COVID-19 and all the associated changes to our lives. We could be seeing a lot of moves, or churn in the market, that would not have happened in a non-COVID world.\u201d<\/p>\n<p style=\"text-align: justify;\">The CREA data revealed that new residential listings on the Multiple Listings Service shot up by 15.9% last month compared to October 2019, reaching 76,015 nationwide. New residential listings in Ottawa surged by 52.7% year-over-year in October, followed by the Greater Toronto Area at 36.4% and Greater Vancouver at 36%. In Fraser Valley, Victoria and Greater Montreal, new home listings increased by 30.9%, 29% and 27.9%, respectively.<\/p>\n<p style=\"text-align: justify;\">Month-over-month, the sales-to-new-listings ratio was 74.3% in October with 2.5 months of inventory\u2014an historic low.<\/p>\n<p style=\"text-align: justify;\">However, according to Erica Mary Smith, broker of record and co-founder of Stomp Realty in Toronto, activity slowed in late October, possibly as a consequence of rising COVID-19 infections in the city, and she expects that to be reflected when statistics for November are released.<\/p>\n<p style=\"text-align: justify;\">\u201cEvery listing from June to September was gone within three days, but I started seeing a slowdown in late October,\u201d she said. \u201cActivity is slow because people don\u2019t even come out to see the product anymore, which can be attributed to them being too nervous to go out. I think it\u2019s going to be slow in November\u2014I will be shocked if sales are up in November, especially because I see more buyers out looking for deals. People listing now hoping for summer prices, which were so high, probably aren\u2019t going to get them.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/strong-october-real-estate-market-could-decline-in-november-334348.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Strong October Real Estate Market Could Decline in November<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian homes sales declined marginally by 0.7% in October from a month earlier, but actual activity compared to a year ago increased by 32.1% because of how many people have &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/\">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-16923","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>Strong Real Estate Market Could Decline in November &#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\/2020\/11\/strong-real-estate-market-could-decline-in-november\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Strong Real Estate Market Could Decline in November &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Canadian homes sales declined marginally by 0.7% in October from a month earlier, but actual activity compared to a year ago increased by 32.1% because of how many people have &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Strong Real Estate Market Could Decline in November\",\"datePublished\":\"2020-11-24T18:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/\"},\"wordCount\":374,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/\",\"name\":\"Strong Real Estate Market Could Decline in November &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2020-11-24T18:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/strong-real-estate-market-could-decline-in-november\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Strong Real Estate Market Could Decline in November\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Strong Real Estate Market Could Decline in November &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/","twitter_card":"summary_large_image","twitter_title":"Strong Real Estate Market Could Decline in November &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Canadian homes sales declined marginally by 0.7% in October from a month earlier, but actual activity compared to a year ago increased by 32.1% because of how many people have &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Strong Real Estate Market Could Decline in November","datePublished":"2020-11-24T18:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/"},"wordCount":374,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/","url":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/","name":"Strong Real Estate Market Could Decline in November &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2020-11-24T18:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/strong-real-estate-market-could-decline-in-november\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Strong Real Estate Market Could Decline in November"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/16923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=16923"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/16923\/revisions"}],"predecessor-version":[{"id":16924,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/16923\/revisions\/16924"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=16923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=16923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=16923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}