Housing Market Shifting Gears: What's Behind the Numbers? The Canadian Real Estate Association (CREA) recently released its latest home sales data, revealing a 5. 3% drop in sales from last year.
While this might seem like cause for concern, CREA's senior economist Shaun Cathcart suggests that we're actually moving toward a more balanced market. One key factor behind this shift is the slowdown in new listings.
In July, new listings were down 1. 6% month over month, indicating that sellers are becoming increasingly cautious about putting their properties on the market.