Canadian sellers are facing more empty open houses and fewer bids on their homes, but experts say buyers shouldn’t expect to see a retreat from record-high home prices when July housing data is released Monday.
Home sales have fallen 25 per cent since reaching a peak at the beginning of the year as demand slows and more houses come onto the market.
But it will take much longer for sky-high home prices to fall and the market to enter buyer-friendly territory. And history is on the side of the seller.
By: Sunny Freeman
The Canadian Press
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