New listings of homes for sale on the Multiple Listing Service in major markets in Canada reached their highest level ever in April thanks to Toronto and Saskatoon, the Canadian Real Estate Association reported yesterday.
But it also said its housing market survey shows new listings rose by more than sales activity, resulting in a more balanced resale housing market in April than in any other month in the past nine years, making it much more of a buyer’s market.
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“This means buyers face less competition in their search for a home,” said Calvin Lindberg, CREA president. “It also means more competition among home sellers.”