For much of the past four years, we’ve been in a sellers’ market. Conditions have shifted over the last 12 months to favour buyers, particularly in the detached home market. This means that home buyers face less competition today, have more selection to choose from and more time to make their decisions.
Homes priced well for today’s market are attracting interest, however, buyers are choosing to take a wait-and-see approach for the time being. Realtors continue to experience more traffic at open houses. We will see if this trend leads to increased sales activity during the spring market.