"I'm definitely starting to see those first-time buyers slowly come back in and starting to look at what's out there,"
"We're finally seeing a market where buyers can negotiate, take their time, and they have a huge choice between where they might decide to make an offer,"
"I would have said a year or two ago that for $600,000, you would have gotten, like, a tiny little baby condo maybe, or a bit bigger, but not in the [Toronto] core,"
"I don't think we are going to see those same runaway home prices that we saw for the last decade anytime soon. Buyers have time right now to consider their options and what they want."
Major Canadian housing markets are showing signs of easing, with prices relatively low and interest rates steady. Condo supply is high, reducing urgency and increasing buyer negotiating power. First-time buyers are beginning to return and can find more options within typical budgets; under $600,000 now often yields a decent one-bedroom in Toronto and three-bedroom homes an hour outside the city. Market conditions allow buyers time to consider choices without fearing runaway price increases. Analysts do not expect a return to the rapid price surges seen over the past decade, giving buyers breathing room.
Read at www.cbc.ca
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