Realtor Royal LePage is saying Canada’s housing market is at a “turning point” with some markets showing price declines.
“Confidence in Canada’s real estate market is sound, but home prices cannot grow faster than salaries and the underlying economy indefinitely,” said Phil Soper, president and chief executive of Royal LePage Real Estate.
They also said the timing of mortgage tightening rules, which took effect yesterday, was “unfortunate” because it “comes at a time when the market was slowing of its own accord.”
Usually realtors but on their rose-colored glasses and tell everyone to keep buying.
