Canada Homebuyers Shun Market Despite 20% Price Drop
Updated
Updated · Bloomberg · Jun 3
Canada Homebuyers Shun Market Despite 20% Price Drop
2 articles · Updated · Bloomberg · Jun 3
Summary
A 20% decline in Canadian home prices still is not drawing buyers back into the market, underscoring weak demand despite sharply lower valuations.
High borrowing costs and affordability strains appear to be outweighing the price correction, leaving would-be purchasers on the sidelines.
The slowdown highlights a broader real-estate malaise in which falling asset values alone are not enough to revive transactions.
Bloomberg’s latest real-estate roundup also pointed to stress elsewhere in property markets, including office losses and shifting bets on homebuilders.