It is still a seller's market but I did notice that more and more people are listing their houses, seeing the crazy amounts they can make.
In my area, I haven't seen this much activity in a long time. Even if you have nowhere to go, some people think it is too good of an opporitunity to pass to be able to get $1million for a dreaming tiny townhouse that they bought a decade ago for 1/4th of the price.
On an AM radio station, the topic yesterday was about the insane home prices evaluations. So many people were calling and saying the same thing: they offer they got was too good to pass so they ended up selling and moving far away from the GTA (some even to other provinces) where they would now be mortgage free and even be able to retire in some instances.
In other words, for some people, it is like hitting the jackpot.
I expect to see more and more buyers trying to take advantage of this 'RE jackpot' . But will there be enough of them to tip the Demand-Supply scale? We shall find out!
Butif do know one thing: as the prices continue to go up, one or the other has to blink: either the seller will find the price to good to pass. Or the buyer will find the price too much to pay. In both instances, in theory at least, supply should go up and demand may either stay the same or go down.
In my area, I haven't seen this much activity in a long time. Even if you have nowhere to go, some people think it is too good of an opporitunity to pass to be able to get $1million for a dreaming tiny townhouse that they bought a decade ago for 1/4th of the price.
On an AM radio station, the topic yesterday was about the insane home prices evaluations. So many people were calling and saying the same thing: they offer they got was too good to pass so they ended up selling and moving far away from the GTA (some even to other provinces) where they would now be mortgage free and even be able to retire in some instances.
In other words, for some people, it is like hitting the jackpot.
I expect to see more and more buyers trying to take advantage of this 'RE jackpot' . But will there be enough of them to tip the Demand-Supply scale? We shall find out!
Butif do know one thing: as the prices continue to go up, one or the other has to blink: either the seller will find the price to good to pass. Or the buyer will find the price too much to pay. In both instances, in theory at least, supply should go up and demand may either stay the same or go down.
