Housing prices are just like wages. They are “sticky”, which means, like wages, you will rarely see a large drop in the market pricing. You really cannot draw a straight line from the slowdown in sales to lower home prices because it doesn’t work that way. As well, less listings on the market offsets the slower sales because there are fewer homes for buyers to choose from.
If you enjoy podcasts, listen to Financial Post columnist and Ryerson University real estate management professor Murtaza Haider as he assesses the pandemic’s impact on housing and rental prices, how the shift to working from home could affect real estate in downtown cores and a rethinking of the suburbs on “Down to Business”.
No comments:
Post a Comment