Wednesday, November 30, 2022

Home sales decline in Canada – Bridge Canada

Buying homes in Canada suffers from constant ups and downs due to changes in prices in the market.

According to the monthly report on housing statistics published by the Canadian Real Estate Association (CREA), home sales dropped by 5.3 percent last July. This shows that real estate activity returns to pre-pandemic levels.

Faced with various economic and social factors arising out of the health crisis, the real estate market is still struggling to achieve stability in terms of supply and demand.

CREA shows GTA, Greater Vancouver and areas such as the Fraser Valley, Calgary and Edmonton; Led to a decline in home sales. Therefore, economist Robert Hogg explains that the real estate market is in the process of correcting.

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This is reflected in the slow process of price stabilization in large cities, so the expectation of getting a lower price in this area falls on areas around the metropolitan area.

Real estate agent Len T. Wong gives the city of Calgary as an example. Which has seen an influx of out-of-town buyers, especially from Ontario and British Columbia.

So, if you are interested in buying a house in Canada, we share with you that the average price of a house in Canada in the month of June was $665,850 CAD. Currently, in August 2022 it is from $629,971 CAD in cities like Toronto and Vancouver.

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Outside the metropolitan area of ​​these cities, the cost drops to around $104,000 CAD.

I am Estefania, a communicator from the National Autonomous University of Mexico. Culture, music and food bring joy to my life. I fell in love with Canada and Timbits in 2019, but I’m also a lover of Halley and have collaborated in media specializing in Asian culture. Follow me and talk.

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