Canada’s home sales drop for first time in 10 months, but prices rise because of dwindling supply

According to the Financial Post Canadian real estate is ´increasingly becoming a seller’s market’ as supply decreases to decade lows, raising the prospect of rising prices.

New listings in cities such as Toronto, Montreal and Ottawa declined at the end of last year, resulting in the fewest homes available for sale in 12 years, the Canadian Real Estate Association reported. As a result, prices are rising nationally at the fastest rate since 2017.

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