A new study provides a glimpse into potential buyer sentiment – and just how busy brokers in certain markets can plan to be for the rest of the year
PropertyGuys.com, a national private sale franchise system, polled its franchises to determine Canadians’ feelings about their respective housing markets. And, according to the data, brokers and, indeed, sellers in Ontario have the most cause for optimism.
“A deeper investigation of the responses revealed that high confidence levels are present throughout Ontario, not just in the vibrant Toronto market,” Walter Melanson, director of partnerships at PropertyGuys, told MortgageBrokerNews.ca. “Many stories of late have suggested that confidence is lowest in markets like Calgary, affected by the oil industry, however our data shows that in rural BC, as well as along the East Coast, people are still feeling the drag of a slower market.”
According to the study, which polled 30 offices across the country, one-third of those who operate in Ontario feel their home market is either “much stronger” or “slightly stronger” than other Canadian housing markets.
Meanwhile, 73% of respondents outside Ontario and Vancouver believe their market is weaker than others.
Melanson argues the data suggests Canadian housing much more nuanced than the Toronto and Vancouver vs. everybody else narrative.
“There are more stories out there than the main three - Vancouver, Toronto, and the oil patch - that we hear so much about the media. It is important people know these details about their local housing markets when considering buying and/or selling a home,” he said.