Despite a drop in prices and a boost in listings, people are still reluctant to take the plunge into home ownership.
An overwhelming majority of people who answered an INsauga.com poll said they likely won’t buy this year.
Asked, “With housing prices dropping, do you think you’ll buy a house this year?” 87 per cent or 1,114 said, “No — still too expensive for me.”
Another 168 or 13 per cent said, “Yes – this might finally be my chance.”
Home prices have dropped since reaching peak high prices in early 2022 in Canada. But before that dip, there was a sharp increase in prices starting in 2006, a recent report from real estate platform Wahi and Real Property Solutions showed.
The real estate market was sluggish in 2024 but experts were expecting a boost in the spring. However, that doesn’t seem to happening, so far.
The most recent report from the Toronto Regional Real Estate Board found found the average selling price, at …