![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/05\/JPbombales-1644-compressed.jpg\")
<\/a><\/p>\nPhoto: James Bombales<\/em><\/p>\n For months, commentators have been discussing the GTA housing market\u2019s slumping sales numbers. But heading into the summer, there some new trends that warrant discussion.<\/p>\n Low prices have kept sellers from listing their homes, but there are some signs that bidding wars could begin to ramp up again. What\u2019s more, Chinese investors have started to take a renewed interest in the market, a year after the foreign buyers tax was put in place.<\/p>\n\n For a closer look at these developments, BuzzBuzzNews has rounded up the latest commentary from industry experts to keep you in the know.<\/p>\n Listings are low<\/strong><\/p>\n Home sales continued to fall in April, and listings followed suit. According to BMO chief economist Douglas Porter, it\u2019s likely a sign that sellers are waiting for prices to tick back upwards later in the year.<\/p>\n \u201cNotably, the sag in April sales was accompanied by an even bigger pullback in new listings, in a sign that potential sellers are unimpressed with the prices on offer,\u201d he wrote in a recent note. <\/p>\n He\u2019s also quick to note that the low listings have kept the market in balanced territory, although things are still much cooler than this time last year.<\/p>\n \u201cNew listings have dropped by less than sales over the past year, loosening the market significantly,\u201d he writes.<\/p>\n Bidding wars are emerging<\/strong><\/p>\n A lack of listings could push demand higher in certain corners of the city. According to data from Zoocasa, there are early indications that bidding wars could be starting in the GTA.<\/p>\n \u201cAs spring sales start to increase, terminology found in MLS listings reveals that bidding wars in the 416 region have returned,\u201d reads a report from the company.<\/p>\n \u201cA query for common terms which usually indicated bidding wars are expected, reveals 197 active Toronto house listings including the wording \u2018acting offers\u2019 and 209 with \u2018register by,\u201d they write.<\/p>\n Foreign investment could be on this rise<\/strong><\/p>\n According to Chinese real estate website Juwai.com, the implementation of a 15 per cent foreign buyers tax last April cut Chinese buyer inquiries by 50 per cent. But that could be changing.<\/p>\n \u201cAfter the new foreign buyers tax kicked in, Chinese demand dropped like a bowling ball, but now that ball may be bouncing,\u201d writes Juwai.com CEO Carrie Law, in a statement. Law predicts a significant recovery in Chinese buying by year\u2019s end, although not to the level seen this time last year.<\/p>\n For a closer look at the market, BuzzBuzzNews has rounded up the latest commentary from industry experts to keep you in the know.<\/p>\n","protected":false},"author":31,"featured_media":180918,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2018-05-19T12:00:42Z","apple_news_api_id":"98e32174-e2ad-43fe-8a72-e8c7f746a7c2","apple_news_api_modified_at":"2018-05-19T12:00:43Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AmOMhdOKtQ_6KcujH90anwg","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11269],"tags":[],"coauthors":[9678],"apple_news_notices":[],"yoast_head":"\n
\nAccording to Law, Chinese buyer inquiries halved in the two months after the tax was imposed, and hit a low point in January. But over the last two months, activity has been moving upwards.<\/p>\n