Home Sellers PANICKING As New Listings Flood The Market

[@mr.d4295]

Seller's are dropping prices 10k to 20k but if they want to actually sell they need to drop prices 10% to 20%

[@propertytwins]

Some do.

[@shea1219]

Can you make a video talking about the new mortgage rules? The increased the cap on CMHC mortgages to 1.5 million.

[@propertytwins]

Just completed a video on it. Will post shortly. Need any further information. Call me

[@robertrankin7805]

Everything built or renovated in 2019-2023 is gross: grey, cheap, fake, open concept, IKEA finishings... Like turf instead of grass

[@propertytwins]

Some are.

[@donm2067]

​@@propertytwins80% is not some lol. I'm sorry but everything is built like trash and cheap AF finishings

[@katethegardener]

House just listed on my street yesterday and there were Agents and prospective buyers waiting outside for their turn to look at it when I drove by. I expect it to sell quickly. Some pockets are still high demand.

[@propertytwins]

100 percent right about that.

[@offgridwanabe]

Finding a buyer is tough thing in a market nobody wants to be in.

[@propertytwins]

It is not easy.

[@cinderelli3192]

Love your stats, the issue of buying a new build is having the extra expense in having to install a fence

[@propertytwins]

HST as well. It is included in the price. But you see it in the statement of adjustments. And look at the costs to build now.

[@jshin5991]

I just recieved an email in BC. Builders are also reducing prices for new homes… 😮

[@propertytwins]

I believe it.

[@batralawgroup6354]

prices may be down by 20-30% by next year 2 years

[@propertytwins]

A lot of people are saying that.

[@mr.d4295]

@@batralawgroup6354 They'll be down 50% by this time next year

[@supertruckertom]

That is one sentiment and why many are waiting for the distress sales. Easy access via the internet to price history reinforces that. Solsd in 2014 for X, now asking 2.5X, Buyers want to offer 1.5 X.

[@presspound7358]

Just out of curiosity…. what is the average or median down payment on a 1 million dollar listing. I’m sitting here thinking of the average Canadian family income and wondering how these folks make it through the month. You have to be a successful business owner… a successful professional…. have received an impressive inheritance… a second or third time buyer with a healthy profit from previous home ownership. Where I live , there’s a small bunch of 1 million dollar listings but the average listing hovers between 360,000 and 460,000 CAD . Even at these prices average folks aren’t living “high off the hog”. Yours is a clearly more affluent market but still… With taxes and utilities… you have to rack in 250,000 to 400,000 $CAD a year to live comfortably.

[@propertytwins]

Yes you do. A lot of people have been in the market for a long time. So they sitting in good equity positions.

[@mauricerobertson4034]

Investors have left the Canadian market. There will be no price appreciation for years. Homes will now have to reflect the wages of the community. Long way to go down yet.

[@dirtlump]

In a so-called "sellers' market when price trajectories are headed higher.... there always exists a constrained supply vis-a-vi higher demand "premium" in final price discovery. In a 'buyers' market when supply is increasing into a limited demand fundamental, although NOT popular, in my view it is absolutely paramount to have THE 'discussion' with the client.... that being if any Sale is expected ? the product must be marketed conducive to attracting price discovery initiation. Failure to do so only exacerbates listings failures therein making nothing but poor people !

[@propertytwins]

Maybe

[@canadahodl5941]

It’s just a gulley

[@propertytwins]

Maybe

[@coolneter1]

Canadian sellers will hold on to the last trying dollar. The pain is just beginning, the squeeze hasn't started. Repo/Consumer Proposal/Power of Sale market is the next boom in Canada.

[@propertytwins]

We r going to find out. Not seeing it now

[@marctrottier8232]

too many listings and to few buyers just like i warned ! LOLOLOL HAHAHAHA ! YOU GUYS BETTER FIND A NEW CAREER !

[@propertytwins]

It is the pricing that these people are asking.

[@marctrottier8232]

@@propertytwins yah the bubble has to burst, the free money and price wars are over !

[@davidrockefeller2007]

You’re either in the asset economy or you’re not. Don’t get left out or you will own nothing and your kids will own nothing.

[@1111Awaken]

Mark calls it like it is.👍👍👍

[@ga1actic_muffin]

​​@@davidrockefeller2007 nobody can enter the asset economy at these prices anyway... Housing should have never been commodified