1) resales and listings are at about half of where they should be in April
2) prices remained stable because Supply and demand conotinues to dwindle. Sellers are deciding to wait to list. Relationship between the supply and demand supported prices in Toronto and Montreal and prices continue to accelerate to some extent.
3) Housing expected to remain quiet in April and likely in May. Economy should open up in June.
4) Prices to stay relatively flat (with exception in places like the praries)
5) the deeper the recession, the more likely we will see price declines over time
Ricky Rathore., BComm., LL.B (Hons.), ABR®, SRS, FRI, Broker of Record – RE/MAX METROPOLIS REALTY, BROKERAGE is a licensed Barrister and Solicitor.
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REMAX Metropolis Realty, Brokerage