BuzzBuzzHome Corp.
March 16, 2010

The Canadian real-estate market is set to cool down, as new listings are starting to hit the market. Phew… this will provide much needed inventory for the slews of buyers looking for homes.

The total number of homes-on-the-market increased in February for the third month in a row (on a seasonally adjusted basis), says the Canadian Real Estate Association.

With the increase, says the CREA, there is 4.7 month of inventory on the market, as compared to 4.5 months worth in January. Remember… these numbers are for ALL of Canada… I would expect Toronto and Vancouver to be a bit slower to react to the changing market and still see some supply shortages.

According to the Globe and Mail:

“That trend has put buyers and sellers in an equilibrium not seen since before the market downturn began about two years ago. The ratio of new listings to sales, an indicator used by analysts to gauge the health of the resale housing market, left the “favourable to sellers” range to the “balanced market” range in February, according to National Bank Financial.”

How many new homes will come on the market on Monday? I have no clue, but the Monday after March Break is historically the busiest listing day in Canada.

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