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Toronto's housing market has experienced a recent slowdown and realtors are having to have tough conversations with their clients. Many of them have been conditioned to believe that home prices only go up and are worried about the value of their homes. However, it is important to separate fact from fiction and to understand that most homes in the market are selling for what they were listed for or slightly less in a reasonable amount of time. The correction has created opportunities in the market, especially for buyers, but also for those looking to upsize their homes. The author believes that the bottom of the market is behind us and that prices will start to creep up again with the return of buyers. The biggest risk to the market is the constant spread of misinformation on social media and online forums. Encouraging clients to buy with a long-term vision and to ignore the day-trader mentality is key.
Read the full article on: REAL ESTATE MAGAZINE
