Canada home sales and volume fell in March 2022

Market slowing down in Canada, where the average price came in at $796,000, down from all-time high reached previous month.

The Canadian Real Estate Association (CREA), which represents more than 100,000 realtors across the country, reported Tuesday that on average, homes sold on the Multiple Listings Service went for $796,000. 

According to some actual sellers, the slowdown is pretty apparent:

Toronto home owner Syed Azhar Shah is one would-be seller who’s having to adjust their expectations down a little in the current market. Shah listed a home for sale in February, but recently took it off the market after being underwhelmed by what he was being offered.

“We had only about nine showings, and there was only one offer, which was much below what we wanted,” Shah told CBC News.

Once the crowd of those who sold and want to buy along with the pre approval crowd is done, in about 60 days or so, the market will change in ways that not too many under 40 could imagined. Let’s see what happens.