Home sellers expect a shift that will favour their position this spring, encouraging them to delay putting offers on the table, writes Grainne Burns of Canadian Real Estate Magazine.
Phil Soper, president and chief executive of agency Royal LePage, confirms, “We expect a market tipped decidedly in favour of sellers for the first half of the year, after which we project a shift to a more balanced market.”
Canadian home prices have been steadily increasing, with the average rate between 1.2 per cent and 3.8 per cent during the final quarter of 2013. Two-storey homes cost $418,322; detached bungalows fetch around $381; while condo units command a price of $246,000.
It is expected that this momentum will continue and render prices favorable to sellers come spring.
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